Diageo (NYSE:DEO) Shares Gap Up – Time to Buy?

Shares of Diageo plc (NYSE:DEO) gapped up prior to trading 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 trading hands.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Finally, UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Diageo presently has a consensus rating of “Hold” and a consensus price target of $129.00.

Diageo Trading Up 5.0 %

The firm’s 50-day moving average is $122.49 and its 200 day moving average is $127.62. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55.

Institutional Trading of Diageo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC grew its position in Diageo by 1.1% in the third quarter. Global Retirement Partners LLC now owns 8,146 shares of the company’s stock valued at $1,143,000 after purchasing an additional 85 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Diageo by 5.6% in the 4th quarter. Diversified Trust Co now owns 1,855 shares of the company’s stock valued at $236,000 after acquiring an additional 98 shares in the last quarter. Malaga Cove Capital LLC increased its position in shares of Diageo by 3.4% in the third quarter. Malaga Cove Capital LLC now owns 3,001 shares of the company’s stock valued at $421,000 after acquiring an additional 100 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in Diageo by 1.5% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 7,218 shares of the company’s stock worth $918,000 after acquiring an additional 105 shares in the last quarter. Finally, Caprock Group LLC boosted its position in Diageo by 1.8% during the fourth quarter. Caprock Group LLC now owns 6,172 shares of the company’s stock valued at $785,000 after purchasing an additional 109 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

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.