Diageo plc (NYSE:DEO) Short Interest Up 32.9% in February

Diageo plc (NYSE:DEO) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 3,056,944 shares, a growth of 32.9% from the February 12th total of 2,299,462 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average trading volume of 2,762,092 shares, the days-to-cover ratio is currently 1.1 days. Based on an average trading volume of 2,762,092 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.5% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Diageo in a report on Friday, November 28th. Barclays restated an “overweight” rating on shares of Diageo in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a report on Wednesday, January 21st. UBS Group reiterated a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. Finally, HSBC lowered Diageo from a “buy” rating to a “hold” rating in a research note on Monday, March 2nd. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.50.

Diageo Stock Performance

NYSE DEO opened at $76.86 on Tuesday. The firm’s 50-day moving average is $90.31 and its two-hundred day moving average is $92.93. Diageo has a 12 month low of $75.77 and a 12 month high of $116.69. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53.

Institutional Investors Weigh In On Diageo

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can increased its holdings in Diageo by 428.7% in the 4th quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock valued at $187,469,000 after purchasing an additional 1,762,027 shares during the last quarter. Morgan Stanley lifted its stake in Diageo by 32.4% during the fourth quarter. Morgan Stanley now owns 1,947,245 shares of the company’s stock worth $167,989,000 after purchasing an additional 476,979 shares in the last quarter. Orbis Allan Gray Ltd lifted its stake in Diageo by 12.4% during the fourth quarter. Orbis Allan Gray Ltd now owns 1,737,346 shares of the company’s stock worth $149,881,000 after purchasing an additional 191,216 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Diageo by 48.5% during the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock worth $162,410,000 after buying an additional 555,509 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Diageo by 72,871.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock worth $158,133,000 after buying an additional 1,566,013 shares during the period. 8.97% of the stock is owned by hedge funds and other 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.