Diageo (NYSE:DEO) Stock Price Expected to Rise, TD Cowen Analyst Says

Diageo (NYSE:DEO) had its target price increased by equities research analysts at TD Cowen from $124.00 to $129.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential upside of 2.87% from the company’s previous close.

DEO has been the subject of several other reports. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Diageo currently has a consensus rating of “Hold” and a consensus target price of $129.00.

Diageo Stock Performance

NYSE DEO opened at $125.40 on Wednesday. The stock has a market capitalization of $69.76 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 3.73 and a beta of 0.67. The stock has a 50-day moving average of $123.22 and a 200 day moving average of $128.36. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. Diageo has a twelve month low of $117.72 and a twelve month high of $154.71.

Institutional Investors Weigh In On Diageo

Several institutional investors and hedge funds have recently added to or reduced their stakes in DEO. Bank of Montreal Can increased its holdings in shares of Diageo by 1,034.5% in the second quarter. Bank of Montreal Can now owns 799,652 shares of the company’s stock valued at $104,443,000 after purchasing an additional 729,166 shares during the last quarter. Natixis Advisors LLC grew its holdings in Diageo by 105.7% in the 3rd quarter. Natixis Advisors LLC now owns 949,411 shares of the company’s stock valued at $133,240,000 after buying an additional 487,904 shares in the last quarter. FMR LLC increased its stake in shares of Diageo by 9.1% in the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after acquiring an additional 437,646 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Diageo by 416.0% during the 2nd quarter. Hsbc Holdings PLC now owns 521,920 shares of the company’s stock worth $65,939,000 after acquiring an additional 420,778 shares during the period. Finally, Raymond James & Associates boosted its position in shares of Diageo by 52.3% during the 3rd quarter. Raymond James & Associates now owns 853,640 shares of the company’s stock valued at $119,800,000 after acquiring an additional 293,017 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Company Profile

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.