BidaskClub Upgrades Diageo PLC (DEO) to Buy

Diageo PLC (NYSE:DEO) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other analysts also recently issued reports on DEO. Zacks Investment Research upgraded shares of Diageo PLC from a “sell” rating to a “hold” rating in a report on Thursday, April 20th. Jefferies Group LLC set a $120.00 price objective on shares of Diageo PLC and gave the company a “buy” rating in a report on Friday, April 21st. Citigroup Inc. downgraded shares of Diageo PLC from a “buy” rating to a “neutral” rating in a report on Thursday, May 25th. Societe Generale upgraded shares of Diageo PLC from a “hold” rating to a “buy” rating in a report on Monday, June 26th. Finally, Sanford C. Bernstein upgraded shares of Diageo PLC from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $142.36 to $153.00 in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $141.67.

Diageo PLC (DEO) traded down 0.60% during mid-day trading on Friday, reaching $132.07. 222,750 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $124.96 and a 200-day moving average price of $118.96. Diageo PLC has a 1-year low of $99.46 and a 1-year high of $134.49. The stock has a market cap of $82.99 billion, a P/E ratio of 23.69 and a beta of 0.76.

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Several institutional investors have recently added to or reduced their stakes in DEO. YorkBridge Wealth Partners LLC boosted its position in Diageo PLC by 297.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 986 shares of the company’s stock valued at $116,000 after buying an additional 738 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in Diageo PLC during the first quarter valued at $118,000. Tower Research Capital LLC TRC boosted its position in Diageo PLC by 404.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,039 shares of the company’s stock valued at $125,000 after buying an additional 833 shares in the last quarter. Glassman Wealth Services boosted its position in Diageo PLC by 116.8% in the first quarter. Glassman Wealth Services now owns 1,071 shares of the company’s stock valued at $124,000 after buying an additional 577 shares in the last quarter. Finally, Tradewinds Capital Management LLC boosted its position in Diageo PLC by 8.5% in the first quarter. Tradewinds Capital Management LLC now owns 1,176 shares of the company’s stock valued at $136,000 after buying an additional 92 shares in the last quarter. 12.06% of the stock is owned by institutional investors and hedge funds.

Diageo PLC 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.