Bank of New York Mellon Corp Boosts Stake in Diageo plc (NYSE:DEO)

Bank of New York Mellon Corp grew its stake in Diageo plc (NYSE:DEO) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 362,145 shares of the company’s stock after buying an additional 13,547 shares during the period. Bank of New York Mellon Corp owned 0.07% of Diageo worth $37,949,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DEO. CoreFirst Bank & Trust purchased a new position in shares of Diageo during the fourth quarter worth $25,000. Orion Capital Management LLC purchased a new position in shares of Diageo during the fourth quarter worth $25,000. Perkins Coie Trust Co purchased a new position in shares of Diageo during the first quarter worth $27,000. Barrett & Company Inc. purchased a new position in shares of Diageo during the first quarter worth $27,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Diageo during the first quarter worth $30,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Morgan Stanley reissued an “underweight” rating on shares of Diageo in a report on Monday, May 12th. Berenberg Bank assumed coverage on shares of Diageo in a report on Wednesday, April 2nd. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Diageo has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Stock Down 1.6%

DEO stock opened at $101.87 on Tuesday. The firm has a market cap of $56.67 billion, a PE ratio of 14.87 and a beta of 0.56. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. The firm’s fifty day moving average is $107.29 and its 200 day moving average is $110.57. Diageo plc has a one year low of $99.26 and a one year high of $142.73.

Diageo Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.