Diageo (NYSE:DEO) Shares Gap Up – Still a Buy?

Diageo plc (NYSE:DEOGet Free Report)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $118.00, but opened at $122.93. Diageo shares last traded at $122.88, with a volume of 449,653 shares trading hands.

Analyst Upgrades and Downgrades

DEO has been the topic of a number of recent analyst reports. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Diageo currently has a consensus rating of “Hold”.

Check Out Our Latest Analysis on DEO

Diageo Trading Up 4.9 %

The stock’s 50-day moving average price is $128.06 and its 200-day moving average price is $129.80. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53.

Hedge Funds Weigh In On Diageo

Several large investors have recently bought and sold shares of DEO. Cetera Advisors LLC lifted its holdings in Diageo by 167.7% in the first quarter. Cetera Advisors LLC now owns 10,417 shares of the company’s stock valued at $1,549,000 after buying an additional 6,525 shares during the period. CWM LLC increased its stake in Diageo by 13.2% in the second quarter. CWM LLC now owns 4,552 shares of the company’s stock valued at $574,000 after purchasing an additional 530 shares in the last quarter. Lantz Financial LLC increased its stake in Diageo by 24.7% in the second quarter. Lantz Financial LLC now owns 11,704 shares of the company’s stock valued at $1,476,000 after purchasing an additional 2,318 shares in the last quarter. Simplicity Wealth LLC increased its stake in Diageo by 5.5% in the second quarter. Simplicity Wealth LLC now owns 26,920 shares of the company’s stock valued at $3,394,000 after purchasing an additional 1,396 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in Diageo in the second quarter valued at approximately $4,249,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Company Profile

(Get Free Report)

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.

Further Reading

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