Diageo plc (DGE) Downgraded by Berenberg Bank to Hold
Diageo plc (LON:DGE) was downgraded by stock analysts at Berenberg Bank to a “hold” rating in a research report issued on Wednesday, Marketbeat.com reports. They currently have a GBX 2,550 ($32.93) target price on the stock. Berenberg Bank’s price target indicates a potential upside of 2.49% from the stock’s previous close.
Several other brokerages have also commented on DGE. Kepler Capital Markets restated a “hold” rating and issued a GBX 2,400 ($31.00) price objective on shares of Diageo plc in a report on Thursday, July 27th. Jefferies Group LLC set a GBX 2,600 ($33.58) price objective on shares of Diageo plc and gave the stock a “buy” rating in a report on Saturday, May 20th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 2,600 ($33.58) price objective on shares of Diageo plc in a report on Thursday, August 10th. Credit Suisse Group restated an “outperform” rating and issued a GBX 2,700 ($34.87) price objective on shares of Diageo plc in a report on Wednesday, August 9th. Finally, Morgan Stanley restated an “overweight” rating and issued a GBX 2,700 ($34.87) price objective on shares of Diageo plc in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. Diageo plc has an average rating of “Buy” and an average price target of GBX 2,561.05 ($33.08).
Diageo plc (DGE) traded down 0.66% during midday trading on Wednesday, reaching GBX 2488.00. 6,808,929 shares of the company’s stock traded hands. The stock’s market cap is GBX 62.54 billion. The company’s 50-day moving average price is GBX 2,534.18 and its 200-day moving average price is GBX 2,355.66. Diageo plc has a 52-week low of GBX 1,946.00 and a 52-week high of GBX 2,616.00.
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In related news, insider Alan Stewart purchased 4,076 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were purchased at an average price of GBX 2,465 ($31.84) per share, with a total value of £100,473.40 ($129,760.30). Also, insider Javier Ferran purchased 65,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were bought at an average cost of GBX 2,503 ($32.33) per share, for a total transaction of £1,626,950 ($2,101,188.17). In the last ninety days, insiders have bought 69,099 shares of company stock worth $172,798,894.
About Diageo plc
Diageo PLC is an alcoholic beverage company. The Company operates in various categories, including spirits and beer. Its geographic segments include North America; Europe, Russia and Turkey; Africa; Latin America and Caribbean, and Asia Pacific. Its principal products includes Scotch whisky, Gin, Vodka, Rum, Beer, Irish Cream Liqueur, Wine, Raki, Tequila, Canadian Whisky, American Whiskey, Progressive Adult Beverages, Cachaca, Brandy and Ready to Drink.
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