First Trust Advisors LP Acquires 49,504 Shares of Diageo plc $DEO

First Trust Advisors LP lifted its holdings in Diageo plc (NYSE:DEO) by 12.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 463,572 shares of the company’s stock after purchasing an additional 49,504 shares during the period. First Trust Advisors LP’s holdings in Diageo were worth $34,513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of Montreal Can raised 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 buying an additional 1,762,027 shares in the last quarter. Orbis Allan Gray Ltd lifted its holdings in Diageo by 236.6% during the second quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock worth $116,772,000 after buying an additional 813,973 shares during the period. Raymond James Financial Inc. boosted its position in Diageo by 48.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock valued at $162,410,000 after acquiring an additional 555,509 shares in the last quarter. Brandywine Global Investment Management LLC bought a new stake in Diageo during the 4th quarter valued at $46,763,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Diageo by 53.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company’s stock valued at $102,124,000 after acquiring an additional 477,999 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Diageo Price Performance

NYSE DEO opened at $85.21 on Tuesday. The firm’s fifty day simple moving average is $82.25 and its two-hundred day simple moving average is $83.82. The company has a quick ratio of 0.71, a current ratio of 1.60 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.