Short Interest in Diageo plc (NYSE:DEO) Decreases By 15.1%

Diageo plc (NYSE:DEO) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 557,300 shares, a decline of 15.1% from the June 30th total of 656,600 shares. Based on an average trading volume of 644,200 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group lowered shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3,730.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado lifted its holdings in shares of Diageo by 4,665.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 482,713 shares of the company’s stock valued at $70,312,000 after purchasing an additional 472,583 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Diageo by 3.3% in the fourth quarter. Private Advisor Group LLC now owns 14,621 shares of the company’s stock valued at $2,129,000 after purchasing an additional 470 shares in the last quarter. Beacon Financial Group purchased a new stake in shares of Diageo in the fourth quarter valued at about $296,000. Wellington Management Group LLP lifted its holdings in shares of Diageo by 56.7% in the fourth quarter. Wellington Management Group LLP now owns 677,478 shares of the company’s stock valued at $98,681,000 after purchasing an additional 245,255 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Diageo by 16.4% in the first quarter. QRG Capital Management Inc. now owns 7,185 shares of the company’s stock valued at $1,069,000 after purchasing an additional 1,011 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Stock Down 0.6 %

DEO traded down $0.83 on Monday, hitting $131.60. 756,705 shares of the company were exchanged, compared to its average volume of 736,542. 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 business’s fifty day moving average is $131.58 and its 200 day moving average is $140.05. Diageo has a fifty-two week low of $124.80 and a fifty-two week high of $177.16.

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.