Diageo (NYSE:DEO) Upgraded to Buy at Citigroup

Citigroup upgraded shares of Diageo (NYSE:DEO) from a neutral rating to a buy rating in a report released on Wednesday morning, Marketbeat Ratings reports.

Diageo Stock Performance

Diageo stock opened at $128.36 on Wednesday. The company has a 50 day moving average price of $135.56 and a 200 day moving average price of $141.99. Diageo has a 52 week low of $124.80 and a 52 week high of $179.78. The company has a quick ratio of 0.65, a current ratio of 1.58 and a debt-to-equity ratio of 1.73.

Hedge Funds Weigh In On Diageo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DEO. Scarborough Advisors LLC acquired a new position in Diageo in the 4th quarter worth approximately $25,000. Planned Solutions Inc. acquired a new stake in shares of Diageo during the 4th quarter valued at $27,000. Concord Wealth Partners acquired a new stake in shares of Diageo during the 1st quarter valued at $29,000. Beacon Capital Management LLC boosted its stake in shares of Diageo by 777.3% during the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after buying an additional 171 shares during the period. Finally, Addison Advisors LLC boosted its stake in shares of Diageo by 97.3% during the 4th quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $32,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.