Diageo (NYSE:DEO) Shares Gap Up – What’s Next?

Diageo plc (NYSE:DEO) gapped up before the market opened on Friday . The stock had previously closed at $118.98, but opened at $124.21. Diageo shares last traded at $123.85, with a volume of 597,505 shares traded.

Analyst Ratings Changes

DEO has been the subject of a number of recent analyst reports. TD Cowen raised their price objective on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Finally, UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $129.00.

Diageo Stock Performance

The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. The stock has a 50 day moving average price of $122.49 and a two-hundred day moving average price of $127.62.

Institutional Trading of Diageo

Several hedge funds and other institutional investors have recently bought and sold shares of DEO. Global Retirement Partners LLC increased its holdings in shares of Diageo by 1.1% during the third quarter. Global Retirement Partners LLC now owns 8,146 shares of the company’s stock worth $1,143,000 after purchasing an additional 85 shares during the period. Diversified Trust Co grew its position in Diageo by 5.6% during the fourth quarter. Diversified Trust Co now owns 1,855 shares of the company’s stock worth $236,000 after buying an additional 98 shares in the last quarter. Malaga Cove Capital LLC increased its stake in Diageo by 3.4% during the 3rd quarter. Malaga Cove Capital LLC now owns 3,001 shares of the company’s stock worth $421,000 after acquiring an additional 100 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Diageo by 1.5% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 7,218 shares of the company’s stock valued at $918,000 after acquiring an additional 105 shares during the period. Finally, Caprock Group LLC grew its holdings in shares of Diageo by 1.8% during the 4th quarter. Caprock Group LLC now owns 6,172 shares of the company’s stock worth $785,000 after purchasing an additional 109 shares in the last quarter. 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.