Diageo (NYSE:DEO) Upgraded at Citigroup

Citigroup upgraded shares of Diageo (NYSE:DEO) from a neutral rating to a buy rating in a research report sent to investors on Wednesday morning, MarketBeat.com reports.

Diageo Stock Performance

Shares of NYSE DEO opened at $129.69 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73. The firm has a 50-day moving average price of $135.12 and a 200 day moving average price of $141.80. Diageo has a 52 week low of $124.80 and a 52 week high of $179.78.

Hedge Funds Weigh In On Diageo

Institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC grew its holdings in Diageo by 7.0% in the first quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock valued at $349,785,000 after purchasing an additional 154,497 shares during the period. Charles Schwab Investment Management Inc. grew its position in Diageo by 6.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,161,648 shares of the company’s stock valued at $301,886,000 after buying an additional 137,397 shares in the last quarter. Markel Group Inc. grew its position in Diageo by 0.4% in the 1st quarter. Markel Group Inc. now owns 1,360,408 shares of the company’s stock valued at $202,347,000 after buying an additional 5,700 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Diageo by 2.4% during the 3rd quarter. Royal Bank of Canada now owns 1,187,543 shares of the company’s stock valued at $177,156,000 after purchasing an additional 27,851 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its stake in Diageo by 10.5% during the second quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock valued at $117,474,000 after buying an additional 88,159 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. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.