Diageo plc (NYSE:DEO) Receives Average Recommendation of "Reduce" from Brokerages

Diageo plc (NYSE:DEO - Get Free Report) has been assigned an average recommendation of "Reduce" from the seven analysts that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $166.37.

Separately, Citigroup upgraded Diageo from a "neutral" rating to a "buy" rating in a research note on Wednesday.

Diageo Trading Up 1.7 %

DEO traded up $2.15 on Wednesday, hitting $128.36. 399,327 shares of the stock traded hands, compared to its average volume of 733,581. Diageo has a 52 week low of $124.80 and a 52 week high of $179.78. 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 business has a fifty day moving average price of $135.56 and a two-hundred day moving average price of $141.99.

Institutional Investors Weigh In On Diageo

A number of institutional investors have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC acquired a new position in shares of Diageo in the 1st quarter worth approximately $125,474,000. Public Employees Retirement Association of Colorado boosted its holdings in shares of Diageo by 4,665.2% in the 4th 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 in the last quarter. Saratoga Research & Investment Management acquired a new position in shares of Diageo in the 4th quarter worth approximately $42,225,000. Wellington Management Group LLP boosted its holdings in shares of 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 acquiring an additional 245,255 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its holdings in shares of Diageo by 55.9% in the 4th quarter. Natixis Advisors L.P. now owns 645,642 shares of the company's stock worth $94,044,000 after acquiring an additional 231,396 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

About Diageo

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.