Tower Bridge Advisors lifted its position in shares of Diageo plc (NYSE:DEO) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,699 shares of the company’s stock after purchasing an additional 875 shares during the quarter. Diageo makes up about 1.3% of Tower Bridge Advisors’ investment portfolio, making the stock its 28th largest position. Tower Bridge Advisors’ holdings in Diageo were worth $12,566,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Morgan Stanley grew its holdings in shares of Diageo by 18.9% during the 2nd quarter. Morgan Stanley now owns 3,688,338 shares of the company’s stock worth $531,157,000 after purchasing an additional 586,255 shares in the last quarter. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Diageo during the 2nd quarter worth approximately $301,365,000. Cooke & Bieler LP grew its holdings in shares of Diageo by 1.0% during the 2nd quarter. Cooke & Bieler LP now owns 396,317 shares of the company’s stock worth $57,074,000 after purchasing an additional 3,949 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Diageo by 0.8% during the 2nd quarter. Fisher Asset Management LLC now owns 382,433 shares of the company’s stock worth $55,074,000 after purchasing an additional 3,156 shares in the last quarter. Finally, Focused Investors LLC grew its holdings in shares of Diageo by 0.6% during the 2nd quarter. Focused Investors LLC now owns 351,800 shares of the company’s stock worth $50,663,000 after purchasing an additional 2,000 shares in the last quarter. 11.27% of the stock is currently owned by institutional investors.
Shares of Diageo stock traded up $0.08 during midday trading on Tuesday, hitting $139.35. 31,438 shares of the company were exchanged, compared to its average volume of 390,030. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.37 and a quick ratio of 0.58. The company has a market capitalization of $87.36 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 2.61 and a beta of 0.63. Diageo plc has a 52 week low of $131.22 and a 52 week high of $151.30.
Several brokerages have recently weighed in on DEO. Argus began coverage on Diageo in a report on Friday, July 13th. They set a “buy” rating and a $168.00 price objective on the stock. Goldman Sachs Group upgraded Diageo from a “neutral” rating to a “buy” rating and set a $168.00 target price for the company in a research report on Thursday, July 12th. Sanford C. Bernstein downgraded Diageo from an “outperform” rating to a “market perform” rating and set a $149.00 target price for the company. in a research report on Friday, June 29th. Finally, Zacks Investment Research upgraded Diageo from a “sell” rating to a “hold” rating in a research report on Monday, June 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $158.40.
Diageo Company Profile
Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.
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