Diageo plc (NYSE:DEO) Short Interest Down 7.1% in October

Diageo plc (NYSE:DEOGet Rating) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 947,900 shares, a decrease of 7.1% from the October 15th total of 1,020,000 shares. Based on an average daily trading volume, of 335,300 shares, the short-interest ratio is presently 2.8 days. Currently, 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DEO. M&T Bank Corp grew its position in Diageo by 7.0% during the third quarter. M&T Bank Corp now owns 40,191 shares of the company’s stock valued at $6,826,000 after buying an additional 2,626 shares during the period. Advisors Capital Management LLC bought a new stake in Diageo during the third quarter valued at approximately $203,000. Captrust Financial Advisors grew its position in Diageo by 20.2% during the third quarter. Captrust Financial Advisors now owns 38,462 shares of the company’s stock valued at $6,531,000 after buying an additional 6,460 shares during the period. Almanack Investment Partners LLC. bought a new stake in Diageo during the third quarter valued at approximately $49,000. Finally, Balyasny Asset Management LLC boosted its position in shares of Diageo by 34.1% in the third quarter. Balyasny Asset Management LLC now owns 188,010 shares of the company’s stock worth $31,926,000 after purchasing an additional 47,849 shares during the period. 9.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Exane BNP Paribas lowered shares of Diageo from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 6th. UBS Group raised their target price on shares of Diageo from GBX 4,300 ($50.53) to GBX 4,500 ($52.88) in a research report on Tuesday, August 2nd. StockNews.com initiated coverage on shares of Diageo in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Barclays increased their price target on shares of Diageo from GBX 5,040 ($59.22) to GBX 5,430 ($63.81) in a research note on Friday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Diageo from GBX 3,300 ($38.78) to GBX 3,350 ($39.37) in a report on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4,198.75.

Diageo Stock Up 0.5 %

Shares of DEO traded up $0.91 during mid-day trading on Friday, hitting $176.45. 275 shares of the company traded hands, compared to its average volume of 352,688. The company has a quick ratio of 0.69, a current ratio of 1.53 and a debt-to-equity ratio of 1.60. The stock has a 50-day moving average price of $170.01 and a two-hundred day moving average price of $177.75. Diageo has a 1 year low of $160.09 and a 1 year high of $223.14.

Diageo Company Profile

(Get Rating)

Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages. The company offers scotch, whisky, gin, vodka, rum, ready to drink products, raki, liqueur, wine, tequila, Canadian whisky, American whiskey, cachaca, and brandy, as well as beer, including cider and non-alcoholic products.

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