Diageo (NYSE:DEO) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Diageo (NYSE:DEO) from a strong sell rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Loop Capital set a $99.00 price target on shares of Diageo in a research report on Thursday, June 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a report on Friday, July 17th. Finally, TD Cowen reiterated a “buy” rating on shares of Diageo in a research note on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Diageo has a consensus rating of “Hold” and a consensus price target of $106.25.

Diageo Stock Down 1.1%

DEO opened at $93.69 on Tuesday. The firm’s fifty day simple moving average is $86.78 and its two-hundred day simple moving average is $84.11. Diageo has a 52-week low of $72.45 and a 52-week high of $113.28. The company has a quick ratio of 0.62, a current ratio of 1.60 and a debt-to-equity ratio of 1.53.

Diageo Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, October 16th will be issued a dividend of $1.20 per share. The ex-dividend date is Friday, October 16th. This represents a dividend yield of 252.0%.

Institutional Trading of Diageo

Several institutional investors have recently added to or reduced their stakes in DEO. Glenview Trust Co lifted its position in Diageo by 3.7% in the fourth quarter. Glenview Trust Co now owns 2,928 shares of the company’s stock valued at $253,000 after purchasing an additional 104 shares during the last quarter. Mission Wealth Management LP grew its holdings in shares of Diageo by 4.0% in the fourth quarter. Mission Wealth Management LP now owns 2,992 shares of the company’s stock worth $258,000 after purchasing an additional 114 shares during the last quarter. Intrust Bank NA grew its holdings in shares of Diageo by 4.4% in the fourth quarter. Intrust Bank NA now owns 3,270 shares of the company’s stock worth $282,000 after purchasing an additional 138 shares during the last quarter. Elevation Point Wealth Partners LLC increased its stake in shares of Diageo by 5.3% in the fourth quarter. Elevation Point Wealth Partners LLC now owns 2,792 shares of the company’s stock worth $241,000 after buying an additional 141 shares during the period. Finally, Horizon Investments LLC increased its stake in shares of Diageo by 2.0% in the fourth quarter. Horizon Investments LLC now owns 7,992 shares of the company’s stock worth $689,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds 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.