Diageo plc (NYSE:DEO) Sees Significant Growth in Short Interest

Diageo plc (NYSE:DEO) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,070,000 shares, an increase of 56.7% from the December 15th total of 682,700 shares. Based on an average daily volume of 962,600 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.2% of the company’s shares are sold short.

Institutional Investors Weigh In On Diageo

Several institutional investors and hedge funds have recently modified their holdings of DEO. Canoe Financial LP raised its stake in Diageo by 88,407.3% in the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after buying an additional 8,104,301 shares in the last quarter. FMR LLC grew its holdings in shares of 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 period. Massachusetts Financial Services Co. MA raised its position in shares of Diageo by 13.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock worth $176,042,000 after acquiring an additional 147,920 shares in the last quarter. Confluence Investment Management LLC lifted its stake in shares of 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 purchasing an additional 284,046 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Diageo by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after purchasing an additional 74,745 shares in the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DEO has been the topic of several recent analyst reports. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. TD Cowen raised their price target on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Stock Up 1.2 %

NYSE:DEO traded up $1.36 during trading hours on Friday, hitting $118.73. The company had a trading volume of 711,471 shares, compared to its average volume of 1,134,452. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. The stock has a 50-day moving average price of $122.70 and a 200 day moving average price of $128.01. Diageo has a 52 week low of $113.99 and a 52 week high of $154.71.

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.