Diageo (NYSE:DEO) Shares Gap Down – Time to Sell?

Diageo plc (NYSE:DEO) gapped down before the market opened on Thursday . The stock had previously closed at $110.82, but opened at $108.37. Diageo shares last traded at $106.97, with a volume of 236,251 shares.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DEO shares. Berenberg Bank started coverage on Diageo in a research note on Wednesday, April 2nd. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft raised Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Morgan Stanley reissued an “underweight” rating on shares of Diageo in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $129.00.

Diageo Price Performance

The business has a 50-day simple moving average of $110.11 and a 200 day simple moving average of $114.38. The stock has a market cap of $58.47 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 2.39 and a beta of 0.58. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62.

Institutional Investors Weigh In On Diageo

Institutional investors have recently made changes to their positions in the stock. CoreFirst Bank & Trust bought a new stake in shares of Diageo in the 4th quarter valued at about $25,000. Orion Capital Management LLC bought a new position in Diageo in the fourth quarter worth approximately $25,000. BNP Paribas bought a new position in Diageo in the fourth quarter worth approximately $32,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Diageo in the fourth quarter worth approximately $32,000. Finally, Perkins Coie Trust Co purchased a new stake in shares of Diageo in the first quarter worth approximately $27,000. Institutional investors own 8.97% of the company’s stock.

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.