Diageo (NYSE:DEO) Rating Lowered to “Hold” at Zacks Research

Diageo (NYSE:DEO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

DEO has been the subject of a number of other research reports. UBS Group reissued a “neutral” rating on shares of Diageo in a research report on Thursday, October 8th. Morningstar cut Diageo to a “hold” rating in a report on Friday, August 7th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Diageo in a research note on Tuesday, October 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Diageo in a report on Tuesday, October 13th. Finally, Berenberg Bank reiterated a “buy” rating on shares of Diageo in a research report on Sunday, August 9th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $99.75.

Diageo Stock Down 1.2%

DEO stock opened at $100.31 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.62 and a current ratio of 1.60. The stock’s fifty day moving average price is $90.57 and its 200-day moving average price is $86.24. Diageo has a 1 year low of $72.45 and a 1 year high of $102.74.

Institutional Trading of Diageo

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mather Group LLC. boosted its stake in shares of Diageo by 794.4% during the third quarter. Mather Group LLC. now owns 322 shares of the company’s stock valued at $28,000 after purchasing an additional 286 shares during the period. Continuum Advisory LLC purchased a new position in Diageo in the 2nd quarter worth about $29,000. Cassaday & Co Wealth Management LLC bought a new position in Diageo in the 1st quarter worth about $34,000. Financial Network Wealth Advisors LLC grew its stake in Diageo by 28.1% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 598 shares of the company’s stock worth $51,000 after acquiring an additional 131 shares in the last quarter. Finally, Axiom Investment Management LLC purchased a new position in shares of Diageo during the first quarter worth approximately $54,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Company Profile

Diageo plc is a global beverage company that produces and markets alcoholic drinks, including spirits, beer and ready-to-drink products. Its portfolio includes brands such as Johnnie Walker, Guinness, Smirnoff, Baileys, Tanqueray and Captain Morgan. The company sells its products in markets around the world through a combination of owned operations, distributors and other commercial partners. Its offerings span categories including Scotch whisky, vodka, gin, rum, tequila, liqueurs and stout. Diageo was formed in 1997 through the merger of Guinness and Grand Metropolitan.