CORDA Investment Management LLC. Acquires New Stake in Diageo plc $DEO

CORDA Investment Management LLC. bought a new stake in Diageo plc (NYSE:DEO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 150,153 shares of the company’s stock, valued at approximately $14,329,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Diageo during the second quarter valued at approximately $26,000. Bell Investment Advisors Inc raised its holdings in Diageo by 94.7% in the 2nd quarter. Bell Investment Advisors Inc now owns 292 shares of the company’s stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new position in shares of Diageo during the 3rd quarter worth $29,000. HHM Wealth Advisors LLC boosted its holdings in shares of Diageo by 76.5% during the second quarter. HHM Wealth Advisors LLC now owns 330 shares of the company’s stock worth $33,000 after purchasing an additional 143 shares during the last quarter. Finally, Whipplewood Advisors LLC boosted its holdings in shares of Diageo by 84.0% during the second quarter. Whipplewood Advisors LLC now owns 357 shares of the company’s stock worth $36,000 after purchasing an additional 163 shares during the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Trading Up 1.6%

NYSE DEO opened at $88.37 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. Diageo plc has a one year low of $84.52 and a one year high of $125.94. The company’s 50 day moving average price is $89.68 and its 200 day moving average price is $98.02.

Wall Street Analysts Forecast Growth

DEO has been the topic of several recent analyst reports. Royal Bank Of Canada upgraded Diageo from a “sector perform” rating to an “outperform” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Bank of America decreased their target price on shares of Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, September 26th. Barclays restated an “overweight” rating on shares of Diageo in a report on Thursday, December 11th. Finally, Sanford C. Bernstein set a $124.00 price target on shares of Diageo and gave the stock an “outperform” rating in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $116.50.

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.