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

First Trust Advisors LP increased its position in shares of Diageo plc (NYSE:DEO) by 12.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 owned approximately 0.08% of Diageo worth $34,513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glenview Trust Co boosted its position in shares of Diageo by 3.7% during the fourth quarter. Glenview Trust Co now owns 2,928 shares of the company’s stock valued at $253,000 after buying an additional 104 shares during the period. Mission Wealth Management LP raised its holdings in shares of Diageo by 4.0% in the fourth quarter. Mission Wealth Management LP now owns 2,992 shares of the company’s stock worth $258,000 after buying an additional 114 shares during the period. Intrust Bank NA raised its holdings in shares of Diageo by 4.4% in the fourth quarter. Intrust Bank NA now owns 3,270 shares of the company’s stock worth $282,000 after buying an additional 138 shares during the period. Elevation Point Wealth Partners LLC raised its holdings in shares of Diageo by 5.3% in the fourth quarter. Elevation Point Wealth Partners LLC now owns 2,792 shares of the company’s stock worth $241,000 after buying an additional 141 shares during the period. Finally, Autumn Glory Partners LLC lifted its stake in shares of Diageo by 1.5% during the 4th quarter. Autumn Glory Partners LLC now owns 9,908 shares of the company’s stock worth $855,000 after acquiring an additional 143 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Up 2.6%

Shares of NYSE DEO opened at $85.21 on Tuesday. Diageo plc has a twelve month low of $72.45 and a twelve month high of $116.41. The business has a fifty day simple moving average of $82.25 and a two-hundred day simple moving average of $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.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DEO shares. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Loop Capital set a $99.00 target price on shares of Diageo in a research note on Thursday, June 18th. Finally, TD Cowen upgraded shares of Diageo from a “hold” rating to a “buy” rating and upped their price target 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Diageo has a consensus rating of “Hold” and an average price target of $106.25.

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.