Diageo (NYSE:DEO) Price Target Raised to $129.00 at TD Cowen

Diageo (NYSE:DEO) had its price objective boosted by analysts at TD Cowen from $124.00 to $129.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price would suggest a potential upside of 2.87% from the stock’s previous close.

A number of other analysts also recently issued reports on DEO. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Price Performance

DEO stock opened at $125.40 on Wednesday. Diageo has a 52-week low of $117.72 and a 52-week high of $154.71. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. The stock has a market cap of $69.76 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 3.73 and a beta of 0.67. The business has a fifty day moving average of $123.22 and a two-hundred day moving average of $128.36.

Hedge Funds Weigh In On Diageo

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its stake in Diageo by 9.1% during the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after purchasing an additional 437,646 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Diageo by 13.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock worth $176,042,000 after buying an additional 147,920 shares during the period. Confluence Investment Management LLC lifted its holdings in Diageo by 30.5% during the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after buying an additional 284,046 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Diageo by 7.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after buying an additional 74,745 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Diageo by 25.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock valued at $156,759,000 after buying an additional 229,946 shares during the period. 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. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.