Gibbs Wealth Management Takes $537,000 Position in Diageo plc $DEO

Gibbs Wealth Management acquired a new position in shares of Diageo plc (NYSE:DEO) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 7,216 shares of the company’s stock, valued at approximately $537,000.

Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can lifted its stake in Diageo by 428.7% in the fourth quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock worth $187,469,000 after acquiring an additional 1,762,027 shares during 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 raised its holdings in shares of Diageo by 12.4% in the 4th quarter. Orbis Allan Gray Ltd now owns 1,737,346 shares of the company’s stock valued at $149,881,000 after purchasing an additional 191,216 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Diageo by 48.5% during the 3rd 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 during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Diageo by 53.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company’s stock worth $102,124,000 after purchasing an additional 477,999 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on DEO. Deutsche Bank Aktiengesellschaft raised Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research report on Friday, July 17th. Loop Capital set a $99.00 price target on shares of Diageo in a research note on Thursday, June 18th. Finally, TD Cowen raised shares of Diageo from a “hold” rating to a “buy” rating and raised their price objective for the stock from $88.00 to $93.00 in a report on Thursday, June 25th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $106.25.

Diageo Stock Performance

DEO stock opened at $83.12 on Friday. The company has a fifty day moving average price of $82.22 and a 200 day moving average price of $83.88. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 1.53. Diageo plc has a 12 month low of $72.45 and a 12 month high of $116.41.

About Diageo

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.