Diageo (NYSE:DEO) Downgraded to “Hold” Rating by TD Cowen

TD Cowen downgraded shares of Diageo (NYSE:DEO) from a strong-buy rating to a hold rating in a research report released on Friday,Zacks.com reports.

A number of other equities analysts have also recently commented on DEO. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. BNP Paribas Exane raised shares of Diageo from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 25th. Loop Capital set a $99.00 target price on shares of Diageo in a research report on Thursday, June 18th. HSBC cut Diageo from a “buy” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $106.25.

Diageo Price Performance

DEO stock opened at $83.47 on Friday. The company’s 50 day moving average is $81.64 and its 200 day moving average is $84.55. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60. Diageo has a 1-year low of $72.45 and a 1-year high of $116.41.

Hedge Funds Weigh In On Diageo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Spire Wealth Management increased its stake in Diageo by 123.6% in the 4th quarter. Spire Wealth Management now owns 322 shares of the company’s stock worth $28,000 after purchasing an additional 178 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Diageo by 8,000.0% during the fourth quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock valued at $29,000 after purchasing an additional 320 shares during the period. Texas Capital Bancshares Inc TX bought a new position in shares of Diageo in the third quarter worth approximately $32,000. Flagship Harbor Advisors LLC bought a new position in shares of Diageo in the fourth quarter worth approximately $30,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Diageo in the first quarter worth $34,000. 8.97% of the stock is currently owned by institutional investors.

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.