Diageo (NYSE:DEO) Price Target Raised to $129.00

Diageo (NYSE:DEO) had its target price hoisted by TD Cowen from $124.00 to $129.00 in a research report report published on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

DEO has been the subject of several other reports. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. Finally, Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $129.00.

Diageo Price Performance

Shares of NYSE DEO opened at $118.30 on Wednesday. The firm has a 50-day moving average of $123.10 and a two-hundred day moving average of $128.27. The company has a market capitalization of $65.81 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 3.73 and a beta of 0.67. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. Diageo has a twelve month low of $117.72 and a twelve month high of $154.71.

Hedge Funds Weigh In On Diageo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Diageo by 9.1% in the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after purchasing an additional 437,646 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Diageo by 13.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock valued at $176,042,000 after buying an additional 147,920 shares during the period. Confluence Investment Management LLC lifted its stake in Diageo by 30.5% in the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after acquiring an additional 284,046 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Diageo by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock worth $142,165,000 after acquiring an additional 74,745 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Diageo by 25.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock worth $156,759,000 after acquiring an additional 229,946 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Company Profile

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