TD Cowen Issues Positive Forecast for Diageo (NYSE:DEO) Stock Price

Diageo (NYSE:DEO) had its price target raised by TD Cowen from $124.00 to $129.00 in a research note published on Wednesday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

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

Diageo Stock Up 0.4 %

DEO opened at $125.40 on Wednesday. Diageo has a twelve month low of $117.72 and a twelve month high of $154.71. The firm has a market cap 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 firm’s 50-day simple moving average is $123.19 and its 200-day simple moving average is $128.38. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. First Hawaiian Bank lifted its stake in shares of Diageo by 24.6% during the fourth quarter. First Hawaiian Bank now owns 5,407 shares of the company’s stock valued at $687,000 after acquiring an additional 1,069 shares during the period. Diversified Trust Co raised its holdings in Diageo by 5.6% during the 4th quarter. Diversified Trust Co now owns 1,855 shares of the company’s stock worth $236,000 after purchasing an additional 98 shares during the last quarter. Canandaigua National Trust Co of Florida acquired a new position in Diageo during the 4th quarter valued at about $269,000. Oliver Luxxe Assets LLC bought a new position in shares of Diageo in the 4th quarter valued at about $2,031,000. Finally, Modus Advisors LLC acquired a new stake in shares of Diageo during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

About Diageo

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.