Diageo (NYSE:DEO) Upgraded to Buy at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Diageo (NYSE:DEO) from a hold rating to a buy rating in a report issued on Tuesday morning, Marketbeat reports.

A number of other equities research analysts also recently issued reports on DEO. Barclays restated an “overweight” rating on shares of Diageo in a research note on Thursday, December 11th. HSBC downgraded shares of Diageo from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. Zacks Research upgraded shares of Diageo from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a report on Wednesday, January 21st. Finally, UBS Group reiterated a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $116.50.

Diageo Stock Performance

Shares of DEO opened at $74.42 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. Diageo has a one year low of $72.45 and a one year high of $116.69. The business has a fifty day moving average of $87.12 and a 200 day moving average of $90.34.

Diageo Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, April 17th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, April 17th. This represents a yield of 207.0%.

Hedge Funds Weigh In On Diageo

Hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its position in shares of Diageo by 428.7% during 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 period. The Manufacturers Life Insurance Company boosted its holdings in Diageo by 72,871.7% in the 2nd 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. Equity Investment Corp purchased a new stake in Diageo in the 3rd quarter worth $92,970,000. Orbis Allan Gray Ltd increased its stake in Diageo by 236.6% in the 2nd quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock worth $116,772,000 after buying an additional 813,973 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Diageo by 353.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 717,740 shares of the company’s stock valued at $72,377,000 after acquiring an additional 559,547 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Diageo Company Profile

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.