Diageo (NYSE:DEO) Cut to Hold at HSBC

HSBC downgraded shares of Diageo (NYSE:DEO) from a buy rating to a hold rating in a research report report published on Monday morning, Marketbeat.com reports.

Several other brokerages also recently commented on DEO. UBS Group reissued a “neutral” rating on shares of Diageo in a research note on Wednesday, December 3rd. Barclays reaffirmed an “overweight” rating on shares of Diageo in a report on Thursday, December 11th. Royal Bank Of Canada upgraded shares of Diageo from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Sanford C. Bernstein set a $124.00 target price on shares of Diageo and gave the company an “outperform” rating in a research report on Monday, December 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research note on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Diageo currently has an average rating of “Hold” and an average target price of $116.50.

Diageo Trading Down 2.2%

Diageo stock opened at $82.27 on Monday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. Diageo has a 52 week low of $80.79 and a 52 week high of $116.69. The stock has a fifty day moving average of $91.42 and a 200-day moving average of $94.94.

Institutional Investors Weigh In On Diageo

Institutional investors have recently made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC bought a new position in shares of Diageo during the second quarter worth about $26,000. Arlington Trust Co LLC increased its position in Diageo by 3,885.7% during the 3rd quarter. Arlington Trust Co LLC now owns 279 shares of the company’s stock valued at $27,000 after purchasing an additional 272 shares during the period. Spire Wealth Management raised its holdings in Diageo by 123.6% during the 4th quarter. Spire Wealth Management now owns 322 shares of the company’s stock worth $28,000 after purchasing an additional 178 shares during the last quarter. Bell Investment Advisors Inc lifted its position in shares of Diageo by 94.7% in the 2nd quarter. Bell Investment Advisors Inc now owns 292 shares of the company’s stock worth $29,000 after purchasing an additional 142 shares during the period. Finally, New England Capital Financial Advisors LLC bought a new stake in shares of Diageo in the 3rd quarter valued at $29,000. Institutional investors own 8.97% of the company’s stock.

About Diageo

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.