Diageo plc (NYSE:DEO) Sees Significant Increase in Short Interest

Diageo plc (NYSE:DEO) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,070,000 shares, an increase of 56.7% from the December 15th total of 682,700 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 962,600 shares, the days-to-cover ratio is currently 1.1 days.

Hedge Funds Weigh In On Diageo

A number of large investors have recently modified their holdings of the company. Canoe Financial LP raised its stake in shares of Diageo by 88,407.3% during the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after acquiring an additional 8,104,301 shares in the last quarter. FMR LLC raised its position in Diageo by 9.1% in 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. Massachusetts Financial Services Co. MA lifted its stake in Diageo by 13.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock worth $176,042,000 after purchasing an additional 147,920 shares during the last quarter. Confluence Investment Management LLC lifted its stake in Diageo by 30.5% in the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after purchasing an additional 284,046 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Diageo by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after buying an additional 74,745 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Trading Up 1.2 %

NYSE DEO traded up $1.36 during trading hours on Friday, reaching $118.73. 711,471 shares of the stock traded hands, compared to its average volume of 1,134,452. The stock has a 50 day simple moving average of $122.70 and a two-hundred day simple moving average of $128.01. Diageo has a 1 year low of $113.99 and a 1 year high of $154.71. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62.

Analyst Upgrades and Downgrades

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

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.