Diageo (NYSE:DEO) Upgraded at BNP Paribas Exane

Key Points

• BNP Paribas Exane upgraded Diageo from an "underperform" to a "neutral" rating, according to a MarketBeat research note issued Wednesday.
• Across analysts, Diageo has a consensus "Hold" rating (5 Buys, 7 Holds, 2 Sells) with an average price target of $116.50.
• Shares opened at $72.47, trading essentially at the 52‑week low of $72.45, while the 50‑ and 200‑day moving averages sit around $88.66 and $91.40 respectively.

Diageo (NYSE:DEO - Get Free Report) was upgraded by BNP Paribas Exane from an "underperform" rating to a "neutral" rating in a research note issued on Wednesday, MarketBeat.com reports.

DEO has been the subject of a number of other research reports. Royal Bank Of Canada upgraded shares of Diageo from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, January 6th. Argus raised Diageo to a "hold" rating in a report on Tuesday, March 10th. Barclays restated an "overweight" rating on shares of Diageo in a research report on Thursday, December 11th. Sanford C. Bernstein set a $124.00 price target on Diageo and gave the company an "outperform" rating in a research report on Monday, December 29th. Finally, UBS Group reissued a "neutral" rating on shares of Diageo in a report on Wednesday, December 3rd. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Diageo has a consensus rating of "Hold" and an average target price of $116.50.

Diageo Price Performance

NYSE:DEO opened at $72.47 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. The company has a 50-day moving average of $88.66 and a 200-day moving average of $91.40. Diageo has a 52 week low of $72.45 and a 52 week high of $116.69.

Hedge Funds Weigh In On Diageo

Several institutional investors have recently bought and sold shares of the business. World Investment Advisors increased its stake in shares of Diageo by 1.3% in the fourth quarter. World Investment Advisors now owns 48,643 shares of the company's stock valued at $4,196,000 after buying an additional 625 shares in the last quarter. Advisortrust Partners LLC bought a new position in shares of Diageo in the fourth quarter valued at about $412,000. Rehmann Capital Advisory Group lifted its position in Diageo by 63.2% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,970 shares of the company's stock worth $339,000 after buying an additional 1,537 shares in the last quarter. MidFirst Bank acquired a new position in Diageo during the 4th quarter worth about $118,000. Finally, Virtu Financial LLC grew its holdings in Diageo by 90.2% during the 4th quarter. Virtu Financial LLC now owns 46,086 shares of the company's stock worth $3,976,000 after acquiring an additional 21,853 shares during the last quarter. Institutional investors own 8.97% of the company's stock.

Diageo Company Profile

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.

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