Diageo plc (NYSE:DEO) Receives $129.00 Average Price Target from Brokerages

Shares of Diageo plc (NYSE:DEO) have been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $129.00.

Several analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “underweight” rating on shares of Diageo in a research note on Monday, May 12th. The Goldman Sachs Group raised shares of Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday.

Hedge Funds Weigh In On Diageo

Several institutional investors and hedge funds have recently bought and sold shares of DEO. Kovitz Investment Group Partners LLC boosted its holdings in Diageo by 234.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company’s stock valued at $330,627,000 after purchasing an additional 1,822,994 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Diageo by 1,544.5% in the 1st quarter. BNP Paribas Financial Markets now owns 396,676 shares of the company’s stock valued at $41,568,000 after purchasing an additional 372,555 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in Diageo in the 1st quarter valued at about $36,050,000. Northern Trust Corp boosted its holdings in Diageo by 39.9% in the 4th quarter. Northern Trust Corp now owns 649,769 shares of the company’s stock valued at $82,605,000 after purchasing an additional 185,282 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its holdings in shares of Diageo by 14.0% in the 2nd quarter. Confluence Investment Management LLC now owns 1,350,826 shares of the company’s stock worth $136,217,000 after acquiring an additional 165,839 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Stock Up 0.4%

DEO stock opened at $109.39 on Thursday. Diageo has a 52 week low of $96.45 and a 52 week high of $142.73. The stock has a market capitalization of $60.86 billion, a P/E ratio of 15.97, a P/E/G ratio of 3.31 and a beta of 0.53. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The firm has a 50-day simple moving average of $103.91 and a 200-day simple moving average of $108.29.

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.