Diageo plc (NYSE:DEO) Short Interest Up 43.1% in December

Diageo plc (NYSE:DEO) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 2,880,062 shares, an increase of 43.1% from the December 15th total of 2,012,433 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,462,814 shares, the short-interest ratio is presently 2.0 days. Based on an average daily trading volume, of 1,462,814 shares, the short-interest ratio is presently 2.0 days. Approximately 0.5% of the shares of the company are short sold.

Diageo Trading Down 0.9%

DEO traded down $0.81 on Friday, hitting $88.54. 1,464,715 shares of the stock traded hands, compared to its average volume of 1,614,818. The business has a fifty day moving average price of $89.51 and a two-hundred day moving average price of $97.58. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64. Diageo has a 52 week low of $84.52 and a 52 week high of $125.94.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group reiterated a “neutral” rating on shares of Diageo in a report on Wednesday, December 3rd. Zacks Research lowered Diageo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Bank of America cut their price objective on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Sanford C. Bernstein set a $124.00 target price on Diageo and gave the company an “outperform” rating in a report on Monday, December 29th. Finally, Barclays reiterated an “overweight” rating on shares of Diageo in a report on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $116.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DEO. Raymond James Financial Inc. increased its stake in Diageo by 48.5% in the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock valued at $162,410,000 after acquiring an additional 555,509 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Diageo by 72,871.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock worth $158,133,000 after purchasing an additional 1,566,013 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Diageo by 8.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,547,626 shares of the company’s stock valued at $147,690,000 after buying an additional 121,008 shares during the period. Confluence Investment Management LLC raised its holdings in Diageo by 0.9% during the 3rd quarter. Confluence Investment Management LLC now owns 1,363,504 shares of the company’s stock worth $130,119,000 after purchasing an additional 12,678 shares during the last quarter. Finally, Cullen Capital Management LLC lifted its holdings in Diageo by 67.5% in the third quarter. Cullen Capital Management LLC now owns 1,309,258 shares of the company’s stock valued at $124,943,000 after buying an additional 527,814 shares during the period. 8.97% of the stock is currently owned by institutional investors and hedge funds.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.