Diageo plc (NYSE:DEO) Given Average Rating of “Reduce” by Brokerages

Shares of Diageo plc (NYSE:DEO) have received a consensus rating of “Reduce” from the seven research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $166.37.

Separately, Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday.

Diageo Stock Up 0.3 %

DEO stock opened at $126.26 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73. The firm has a 50 day moving average price of $135.85 and a 200-day moving average price of $142.11. Diageo has a 52-week low of $124.80 and a 52-week high of $179.78.

Hedge Funds Weigh In On Diageo

A number of hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado grew its stake in shares of Diageo by 4,665.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 482,713 shares of the company’s stock worth $70,312,000 after acquiring an additional 472,583 shares during the period. Private Advisor Group LLC boosted its holdings in Diageo by 3.3% in the fourth quarter. Private Advisor Group LLC now owns 14,621 shares of the company’s stock worth $2,129,000 after purchasing an additional 470 shares during the last quarter. Beacon Financial Group purchased a new stake in Diageo in the fourth quarter worth approximately $296,000. Wellington Management Group LLP grew its position in Diageo by 56.7% in the 4th quarter. Wellington Management Group LLP now owns 677,478 shares of the company’s stock worth $98,681,000 after purchasing an additional 245,255 shares during the period. Finally, Cerity Partners LLC raised its stake in Diageo by 6.1% during the 4th quarter. Cerity Partners LLC now owns 41,808 shares of the company’s stock valued at $6,090,000 after buying an additional 2,400 shares during the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Company Profile

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