Envestnet Asset Management Inc. Purchases 121,008 Shares of Diageo plc $DEO

Envestnet Asset Management Inc. increased its holdings in shares of Diageo plc (NYSE:DEO) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,547,626 shares of the company’s stock after acquiring an additional 121,008 shares during the quarter. Envestnet Asset Management Inc. owned about 0.28% of Diageo worth $147,690,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in Diageo by 72,871.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock worth $158,133,000 after buying an additional 1,566,013 shares in the last quarter. Orbis Allan Gray Ltd lifted its position in shares of Diageo by 236.6% during the 2nd quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock valued at $116,772,000 after acquiring an additional 813,973 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Diageo by 353.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 717,740 shares of the company’s stock valued at $72,377,000 after acquiring an additional 559,547 shares during the period. Marshall Wace LLP acquired a new stake in shares of Diageo during the 2nd quarter worth $26,851,000. Finally, River Road Asset Management LLC bought a new position in shares of Diageo in the second quarter worth $24,826,000. Institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

Diageo stock opened at $96.90 on Friday. Diageo plc has a 52-week low of $84.52 and a 52-week high of $116.69. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. The firm has a 50 day moving average price of $89.30 and a two-hundred day moving average price of $96.45.

Analysts Set New Price Targets

DEO has been the subject of several research analyst reports. Sanford C. Bernstein set a $124.00 target price on Diageo and gave the company an “outperform” rating in a research report on Monday, December 29th. Royal Bank Of Canada upgraded shares of Diageo from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research note on Wednesday, January 21st. Barclays reaffirmed an “overweight” rating on shares of Diageo in a research note on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Diageo in a report on Friday, November 28th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Diageo has an average rating of “Hold” and a consensus price target of $116.50.

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.