Diageo (NYSE:DEO) Shares Gap Up – Still a Buy?

Shares of Diageo plc (NYSE:DEO) gapped up prior to trading on Thursday . The stock had previously closed at $118.00, but opened at $122.93. Diageo shares last traded at $122.88, with a volume of 449,653 shares changing hands.

Wall Street Analyst Weigh In

DEO has been the subject of a number of research analyst reports. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Diageo Trading Up 4.9 %

The stock’s 50 day moving average is $128.06 and its two-hundred day moving average is $129.80. 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DEO. Citigroup Inc. boosted its position in Diageo by 4.4% in the third quarter. Citigroup Inc. now owns 158,428 shares of the company’s stock valued at $22,234,000 after buying an additional 6,617 shares in the last quarter. FMR LLC boosted its position in Diageo by 9.1% in the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after buying an additional 437,646 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Diageo by 32.8% in the third quarter. BNP Paribas Financial Markets now owns 65,894 shares of the company’s stock valued at $9,248,000 after buying an additional 16,285 shares in the last quarter. CIBC Asset Management Inc boosted its position in Diageo by 106.2% in the third quarter. CIBC Asset Management Inc now owns 31,643 shares of the company’s stock valued at $4,441,000 after buying an additional 16,300 shares in the last quarter. Finally, Grandfield & Dodd LLC boosted its position in Diageo by 2.3% in the third quarter. Grandfield & Dodd LLC now owns 240,013 shares of the company’s stock valued at $33,684,000 after buying an additional 5,460 shares in the last quarter. Institutional investors 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.