Fiduciary Alliance LLC Acquires New Position in Diageo plc $DEO

Fiduciary Alliance LLC bought a new position in shares of Diageo plc (NYSE:DEO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,704 shares of the company’s stock, valued at approximately $773,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DEO. Bank of Montreal Can grew its position in shares of Diageo by 428.7% during the fourth quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock worth $187,469,000 after buying an additional 1,762,027 shares in the last quarter. Morgan Stanley raised its holdings in shares of Diageo by 32.4% in the 4th quarter. Morgan Stanley now owns 1,947,245 shares of the company’s stock valued at $167,989,000 after purchasing an additional 476,979 shares in the last quarter. Orbis Allan Gray Ltd lifted its position in shares of Diageo by 12.4% during the 4th quarter. Orbis Allan Gray Ltd now owns 1,737,346 shares of the company’s stock worth $149,881,000 after purchasing an additional 191,216 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of Diageo by 48.5% during the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock worth $162,410,000 after purchasing an additional 555,509 shares in the last quarter. Finally, Markel Group Inc. increased its holdings in Diageo by 0.4% in the fourth quarter. Markel Group Inc. now owns 1,371,708 shares of the company’s stock valued at $118,337,000 after buying an additional 5,000 shares during the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. BNP Paribas Exane raised Diageo from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 25th. Loop Capital set a $99.00 price target on Diageo in a report on Thursday, June 18th. Zacks Research upgraded shares of Diageo from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. TD Cowen upgraded Diageo from a “hold” rating to a “buy” rating and raised their price target for the stock from $88.00 to $93.00 in a research note on Thursday. Finally, Argus raised shares of Diageo to a “hold” rating in a report on Tuesday, March 10th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Diageo currently has an average rating of “Hold” and a consensus price target of $106.25.

Diageo Stock Up 1.0%

Shares of DEO opened at $83.47 on Friday. Diageo plc has a 1-year low of $72.45 and a 1-year high of $116.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. The firm has a 50 day simple moving average of $81.64 and a 200-day simple moving average of $84.55.

Diageo Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.