BNP Paribas Downgrades Diageo (DEO) to Neutral

Diageo (NYSE:DEO) was downgraded by equities researchers at BNP Paribas from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday.

A number of other research firms have also recently weighed in on DEO. Jefferies Group set a $157.00 target price on shares of Diageo and gave the company a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research upgraded shares of Diageo from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research note on Monday, January 22nd. Finally, Royal Bank of Canada cut shares of Diageo from an “outperform” rating to a “sector perform” rating in a research note on Monday. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $156.25.

Diageo (DEO) traded down $2.99 on Monday, reaching $142.03. 176,261 shares of the company’s stock were exchanged, compared to its average volume of 417,009. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.31. Diageo has a 52-week low of $110.59 and a 52-week high of $147.62.

Several hedge funds have recently made changes to their positions in DEO. Fisher Asset Management LLC lifted its stake in shares of Diageo by 2,801.7% during the 4th quarter. Fisher Asset Management LLC now owns 422,482 shares of the company’s stock valued at $61,695,000 after buying an additional 407,922 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Diageo by 29.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,475,331 shares of the company’s stock valued at $176,789,000 after buying an additional 332,046 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Diageo during the 4th quarter valued at approximately $17,434,000. The Manufacturers Life Insurance Company lifted its stake in shares of Diageo by 10.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,195,108 shares of the company’s stock valued at $143,210,000 after buying an additional 115,666 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Diageo by 20.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 477,570 shares of the company’s stock valued at $57,227,000 after buying an additional 81,823 shares in the last quarter. Institutional investors own 12.03% of the company’s stock.

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Diageo Company Profile

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.