Ethic Inc. Raises Stock Holdings in Diageo plc $DEO

Ethic Inc. grew its position in shares of Diageo plc (NYSE:DEO) by 73.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,393 shares of the company’s stock after purchasing an additional 9,468 shares during the period. Ethic Inc.’s holdings in Diageo were worth $2,137,000 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. Osaic Holdings Inc. grew its stake in shares of Diageo by 42.2% during the 2nd quarter. Osaic Holdings Inc. now owns 99,998 shares of the company’s stock valued at $10,099,000 after buying an additional 29,674 shares during the period. Savant Capital LLC purchased a new stake in shares of Diageo in the second quarter worth about $310,000. Philip James Wealth Mangement LLC boosted its holdings in Diageo by 81.8% in the 2nd quarter. Philip James Wealth Mangement LLC now owns 33,107 shares of the company’s stock worth $3,338,000 after acquiring an additional 14,895 shares during the period. Martin Capital Partners LLC increased its stake in Diageo by 225.8% during the 2nd quarter. Martin Capital Partners LLC now owns 32,525 shares of the company’s stock worth $3,280,000 after buying an additional 22,542 shares during the period. Finally, Confluence Investment Management LLC lifted its stake in shares of Diageo by 0.9% in the third quarter. Confluence Investment Management LLC now owns 1,363,504 shares of the company’s stock worth $130,119,000 after acquiring an additional 12,678 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DEO shares. UBS Group reaffirmed a “neutral” rating on shares of Diageo in a report on Wednesday, December 3rd. Barclays restated an “overweight” rating on shares of Diageo in a research report on Thursday, December 11th. Bank of America decreased their target price on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Diageo in a research note on Friday, November 28th. Finally, Zacks Research lowered shares of Diageo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $120.67.

Diageo Stock Down 0.4%

Shares of Diageo stock opened at $86.29 on Friday. The stock has a 50-day moving average price of $90.38 and a 200 day moving average price of $98.63. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64. Diageo plc has a 1 year low of $85.11 and a 1 year high of $127.33.

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.