Beacon Pointe Advisors LLC Has $1.70 Million Position in Diageo plc (NYSE:DEO)

Beacon Pointe Advisors LLC lowered its stake in shares of Diageo plc (NYSE:DEOGet Rating) by 36.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,798 shares of the company’s stock after selling 5,613 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Diageo were worth $1,701,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Samalin Investment Counsel LLC grew its position in Diageo by 20.7% during the first quarter. Samalin Investment Counsel LLC now owns 321 shares of the company’s stock worth $65,000 after buying an additional 55 shares in the last quarter. Checchi Capital Advisers LLC grew its position in Diageo by 2.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,973 shares of the company’s stock worth $604,000 after buying an additional 59 shares in the last quarter. BCGM Wealth Management LLC grew its position in Diageo by 1.1% during the second quarter. BCGM Wealth Management LLC now owns 5,649 shares of the company’s stock worth $1,081,000 after buying an additional 59 shares in the last quarter. Tevis Investment Management grew its position in Diageo by 6.2% during the second quarter. Tevis Investment Management now owns 1,009 shares of the company’s stock worth $175,000 after buying an additional 59 shares in the last quarter. Finally, Norway Savings Bank lifted its stake in Diageo by 3.3% during the second quarter. Norway Savings Bank now owns 1,878 shares of the company’s stock worth $327,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 9.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DEO. Credit Suisse Group upped their target price on Diageo from GBX 4,400 ($52.03) to GBX 4,550 ($53.80) in a research note on Friday, July 29th. Barclays upped their target price on Diageo from GBX 5,040 ($59.60) to GBX 5,430 ($64.21) in a research note on Friday, July 29th. Royal Bank of Canada upped their target price on Diageo from GBX 2,800 ($33.11) to GBX 3,000 ($35.47) in a research note on Friday, July 29th. UBS Group upped their target price on Diageo from GBX 4,300 ($50.85) to GBX 4,500 ($53.21) in a research note on Tuesday, August 2nd. Finally, Erste Group Bank cut Diageo from a “buy” rating to a “hold” rating in a research note on Friday, November 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4,198.75.

Diageo Stock Up 1.6 %

Shares of DEO opened at $183.01 on Thursday. Diageo plc has a 52 week low of $160.09 and a 52 week high of $223.14. The company has a current ratio of 1.53, a quick ratio of 0.69 and a debt-to-equity ratio of 1.60. The stock has a fifty day moving average of $170.04 and a 200-day moving average of $177.12.

Diageo Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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