Diageo plc (NYSE:DEO) Short Interest Update

Diageo plc (NYSE:DEO) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 2,880,062 shares, an increase of 43.1% from the December 15th total of 2,012,433 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average trading volume of 1,462,814 shares, the days-to-cover ratio is currently 2.0 days. Based on an average trading volume of 1,462,814 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.5% of the shares of the company are sold short.

Diageo Stock Down 0.9%

Shares of DEO opened at $88.54 on Monday. Diageo has a one year low of $84.52 and a one year high of $125.94. The stock’s fifty day moving average is $89.51 and its 200-day moving average is $97.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64.

Institutional Trading of Diageo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. boosted its holdings in shares of Diageo by 48.5% in the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock valued at $162,410,000 after acquiring an additional 555,509 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Diageo by 72,871.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock valued at $158,133,000 after purchasing an additional 1,566,013 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Diageo by 8.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,547,626 shares of the company’s stock valued at $147,690,000 after purchasing an additional 121,008 shares during the period. Confluence Investment Management LLC raised its stake in shares of Diageo by 0.9% in the 3rd quarter. Confluence Investment Management LLC now owns 1,363,504 shares of the company’s stock worth $130,119,000 after buying an additional 12,678 shares in the last quarter. Finally, Cullen Capital Management LLC raised its stake in shares of Diageo by 67.5% in the 3rd quarter. Cullen Capital Management LLC now owns 1,309,258 shares of the company’s stock worth $124,943,000 after buying an additional 527,814 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DEO shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Diageo in a report on Friday, November 28th. Zacks Research downgraded Diageo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Sanford C. Bernstein set a $124.00 target price on Diageo and gave the stock an “outperform” rating in a research report on Monday, December 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Finally, UBS Group restated a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Diageo has an average rating of “Hold” and a consensus price target of $116.50.

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.