Diageo (NYSE:DEO) Upgraded by Bank of America to “Buy”

Bank of America upgraded shares of Diageo (NYSE:DEO) from a neutral rating to a buy rating in a research report sent to investors on Thursday, Marketbeat Ratings reports.

A number of other analysts also recently commented on DEO. Citigroup upgraded Diageo from a neutral rating to a buy rating in a report on Wednesday, July 3rd. The Goldman Sachs Group downgraded Diageo from a neutral rating to a sell rating in a report on Friday, July 12th. Finally, Royal Bank of Canada upgraded Diageo from an underperform rating to a sector perform rating in a report on Monday, August 12th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold.

Diageo Trading Up 3.6 %

Diageo stock opened at $133.39 on Thursday. The stock has a 50-day moving average price of $128.82 and a 200 day moving average price of $136.25. Diageo has a 52 week low of $119.48 and a 52 week high of $161.64. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a dividend yield of 3.2%.

Institutional Investors Weigh In On Diageo

A number of institutional investors have recently made changes to their positions in the company. Scarborough Advisors LLC bought a new position in Diageo in the fourth quarter worth about $25,000. Triad Wealth Partners LLC acquired a new stake in shares of Diageo during the 2nd quarter worth approximately $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of Diageo in the 2nd quarter worth approximately $25,000. Concord Wealth Partners acquired a new position in Diageo during the 1st quarter valued at approximately $29,000. Finally, Beacon Capital Management LLC grew its stake in Diageo by 777.3% during the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after buying an additional 171 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors.

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.