Argus Upgrades Diageo (NYSE:DEO) to Hold

Diageo (NYSE:DEO) was upgraded by equities researchers at Argus to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms have also recently commented on DEO. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Wednesday, January 21st. HSBC cut shares of Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. UBS Group reissued a “neutral” rating on shares of Diageo in a research note on Wednesday, December 3rd. Barclays restated an “overweight” rating on shares of Diageo in a research report on Thursday, December 11th. Finally, Sanford C. Bernstein set a $124.00 price target on shares of Diageo and gave the stock an “outperform” rating in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.50.

Diageo Stock Down 0.8%

NYSE:DEO opened at $81.41 on Tuesday. Diageo has a twelve month low of $80.45 and a twelve month high of $116.69. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. The stock’s 50-day simple moving average is $91.08 and its 200 day simple moving average is $93.91.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Bank of Montreal Can boosted its holdings in shares of Diageo by 428.7% in the 4th quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock worth $187,469,000 after buying an additional 1,762,027 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Diageo by 72,871.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock valued at $158,133,000 after acquiring an additional 1,566,013 shares during the period. Equity Investment Corp purchased a new position in Diageo in the third quarter valued at approximately $92,970,000. Orbis Allan Gray Ltd increased its position in Diageo by 236.6% in the second quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock worth $116,772,000 after buying an additional 813,973 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Diageo by 353.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 717,740 shares of the company’s stock valued at $72,377,000 after buying an additional 559,547 shares during the period. 8.97% of the stock is owned by institutional investors.

Diageo Company Profile

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.