Diageo (NYSE:DEO) Shares Gap Down - Here's What Happened

Shares of Diageo plc (NYSE:DEO - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $110.82, but opened at $108.37. Diageo shares last traded at $106.97, with a volume of 236,251 shares traded.

Analyst Ratings Changes

A number of brokerages have weighed in on DEO. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a report on Monday, May 12th. Finally, Berenberg Bank started coverage on Diageo in a report on Wednesday, April 2nd. They issued a "buy" rating for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $129.00.

Diageo Stock Down 0.1%

The firm has a market capitalization of $58.47 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 2.39 and a beta of 0.58. The stock has a fifty day moving average of $110.11 and a two-hundred day moving average of $114.35. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67.

Institutional Investors Weigh In On Diageo

Institutional investors and hedge funds have recently made changes to their positions in the stock. CoreFirst Bank & Trust bought a new stake in Diageo in the fourth quarter valued at approximately $25,000. Orion Capital Management LLC acquired a new position in shares of Diageo in the 4th quarter worth approximately $25,000. Perkins Coie Trust Co bought a new stake in shares of Diageo in the 1st quarter valued at $27,000. Barrett & Company Inc. acquired a new stake in shares of Diageo during the first quarter worth $27,000. Finally, Abound Financial LLC bought a new position in Diageo during the first quarter worth $27,000. 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.