Diageo (NYSE:DEO) Shares Gap Up – What’s Next?
by Renee Jackson · The Cerbat GemDiageo plc (NYSE:DEO – Get Free Report)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $81.67, but opened at $84.90. Diageo shares last traded at $84.4780, with a volume of 236,115 shares.
Wall Street Analyst Weigh In
DEO has been the topic of a number of recent analyst reports. BNP Paribas Exane upgraded shares of Diageo from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research note on Monday, April 20th. Zacks Research upgraded shares of Diageo from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Finally, TD Cowen upgraded Diageo from a “hold” rating to a “buy” rating and lifted their price target for the stock from $88.00 to $93.00 in a report on Thursday, June 25th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $106.25.
Check Out Our Latest Research Report on Diageo
Diageo Price Performance
The stock’s 50-day simple moving average is $81.66 and its 200 day simple moving average is $84.31. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 1.53.
Institutional Trading of Diageo
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Causeway Capital Management LLC lifted its holdings in Diageo by 8.4% during the 3rd quarter. Causeway Capital Management LLC now owns 466,866 shares of the company’s stock worth $44,553,000 after purchasing an additional 36,156 shares during the last quarter. Third View Private Wealth LLC acquired a new position in Diageo in the 4th quarter valued at $1,111,000. Cantor Fitzgerald L. P. bought a new position in Diageo during the 3rd quarter worth $3,328,000. Great Hill Capital LLC increased its position in Diageo by 110.0% during the 4th quarter. Great Hill Capital LLC now owns 69,460 shares of the company’s stock worth $5,992,000 after buying an additional 36,391 shares during the period. Finally, Philip James Wealth Mangement LLC lifted its holdings in shares of Diageo by 31.4% during the fourth quarter. Philip James Wealth Mangement LLC now owns 61,492 shares of the company’s stock worth $5,305,000 after buying an additional 14,701 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.
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.