Diageo (NYSE:DEO) Upgraded to “Hold” at Argus

Argus upgraded shares of Diageo (NYSE:DEO) to a hold rating in a report released on Tuesday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada raised Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Diageo in a report on Friday, November 28th. UBS Group reiterated a “neutral” rating on shares of Diageo in a research note on Wednesday, December 3rd. HSBC downgraded Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. 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 analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Diageo has a consensus rating of “Hold” and a consensus target price of $116.50.

Diageo Stock Down 0.8%

DEO stock opened at $81.41 on Tuesday. Diageo has a 12 month low of $80.45 and a 12 month high of $116.69. The company has a 50-day moving average price of $91.08 and a 200 day moving average price of $93.91. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53.

Hedge Funds Weigh In On Diageo

Several institutional investors have recently made changes to their positions in DEO. Equity Investment Corp bought a new position in Diageo in the third quarter worth approximately $92,970,000. Federated Hermes Inc. boosted its position in Diageo by 7.2% during the 3rd quarter. Federated Hermes Inc. now owns 726,578 shares of the company’s stock valued at $69,337,000 after acquiring an additional 48,909 shares in the last quarter. Savant Capital LLC bought a new stake in Diageo during the 2nd quarter valued at $310,000. Osaic Holdings Inc. raised its position in shares of Diageo by 42.2% in the 2nd quarter. Osaic Holdings Inc. now owns 99,998 shares of the company’s stock worth $10,099,000 after acquiring an additional 29,674 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its stake in shares of 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. Hedge funds and other institutional investors own 8.97% of the company’s stock.

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.