Diageo (NYSE:DEO) Shares Gap Down – Time to Sell?

Diageo plc (NYSE:DEO) shares gapped down before the market opened on Friday . The stock had previously closed at $126.12, but opened at $122.72. Diageo shares last traded at $122.01, with a volume of 135,214 shares traded.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DEO. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold”.

Diageo Stock Down 3.8 %

The company’s 50-day moving average price is $123.51 and its 200-day moving average price is $128.49. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62.

Institutional Trading of Diageo

Institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in Diageo by 9.1% during the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after acquiring an additional 437,646 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Diageo by 13.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock valued at $176,042,000 after purchasing an additional 147,920 shares in the last quarter. Confluence Investment Management LLC increased its stake in Diageo by 30.5% in the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after buying an additional 284,046 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Diageo by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock worth $142,165,000 after buying an additional 74,745 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Diageo by 25.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock valued at $156,759,000 after acquiring an additional 229,946 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors.

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.