Manitou Investment Management Ltd. Grows Stake in Diageo plc (NYSE:DEO)

Manitou Investment Management Ltd. boosted its position in Diageo plc (NYSE:DEO) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,410 shares of the company’s stock after purchasing an additional 330 shares during the period. Diageo comprises 1.6% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 19th biggest position. Manitou Investment Management Ltd.’s holdings in Diageo were worth $6,444,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Willingdon Wealth Management raised its holdings in Diageo by 14.8% during the second quarter. Willingdon Wealth Management now owns 488 shares of the company’s stock worth $84,000 after buying an additional 63 shares during the last quarter. Allworth Financial LP raised its holdings in Diageo by 15.7% during the 3rd quarter. Allworth Financial LP now owns 486 shares of the company’s stock valued at $79,000 after buying an additional 66 shares during the period. CAPROCK Group Inc. raised its holdings in Diageo by 2.5% during the 3rd quarter. CAPROCK Group Inc. now owns 2,845 shares of the company’s stock valued at $471,000 after buying an additional 69 shares during the period. ProVise Management Group LLC raised its holdings in Diageo by 0.8% during the 2nd quarter. ProVise Management Group LLC now owns 8,767 shares of the company’s stock valued at $1,511,000 after buying an additional 72 shares during the period. Finally, Cornerstone Advisors Inc. raised its holdings in Diageo by 16.3% during the 2nd quarter. Cornerstone Advisors Inc. now owns 521 shares of the company’s stock valued at $90,000 after buying an additional 73 shares during the period. 9.48% of the stock is owned by hedge funds and other institutional investors.

DEO stock traded down $1.03 during midday trading on Friday, reaching $159.04. The company’s stock had a trading volume of 417,322 shares, compared to its average volume of 363,973. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.56 and a current ratio of 1.34. The stock has a fifty day simple moving average of $161.99 and a two-hundred day simple moving average of $167.14. Diageo plc has a 1 year low of $137.24 and a 1 year high of $176.22. The firm has a market capitalization of $102.94 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 2.79 and a beta of 0.45.

Several analysts recently weighed in on the company. Morgan Stanley restated an “overweight” rating on shares of Diageo in a report on Thursday, October 24th. Societe Generale lowered Diageo from a “buy” rating to a “sell” rating in a report on Thursday, September 5th. They noted that the move was a valuation call. ValuEngine lowered Diageo from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded Diageo from a “sell” rating to a “hold” rating and set a $171.00 price target on the stock in a report on Monday, November 4th. Finally, Sanford C. Bernstein upgraded Diageo from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 10th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Diageo presently has an average rating of “Hold” and an average price target of $171.00.

About Diageo

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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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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