TD Cowen Raises Diageo (NYSE:DEO) Price Target to $129.00

Diageo (NYSE:DEO) had its price objective raised by TD Cowen from $124.00 to $129.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s target price points to a potential upside of 3.36% from the stock’s current price.

Other analysts have also recently issued reports about the company. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $129.00.

Diageo Price Performance

Shares of NYSE:DEO traded down $0.07 during trading on Wednesday, reaching $124.81. 354,829 shares of the company’s stock traded hands, compared to its average volume of 1,009,246. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. Diageo has a fifty-two week low of $117.72 and a fifty-two week high of $154.71. The company has a 50-day simple moving average of $123.24 and a 200-day simple moving average of $128.40. The firm has a market cap of $69.43 billion, a PE ratio of 16.89, a P/E/G ratio of 3.73 and a beta of 0.67.

Institutional Investors Weigh In On Diageo

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