Factory Mutual Insurance Co. Makes New $2.36 Million Investment in Diageo plc $DEO

Factory Mutual Insurance Co. purchased a new stake in Diageo plc (NYSE:DEO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,675 shares of the company’s stock, valued at approximately $2,355,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in Diageo by 72,871.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock valued at $158,133,000 after purchasing an additional 1,566,013 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Diageo by 8.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,547,626 shares of the company’s stock valued at $147,690,000 after buying an additional 121,008 shares in the last quarter. Confluence Investment Management LLC grew its position in 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. Cullen Capital Management LLC grew its position in Diageo by 67.5% in the third quarter. Cullen Capital Management LLC now owns 1,309,258 shares of the company’s stock worth $124,943,000 after acquiring an additional 527,814 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Diageo by 0.3% in the third quarter. JPMorgan Chase & Co. now owns 1,276,576 shares of the company’s stock valued at $121,824,000 after acquiring an additional 4,227 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

Shares of DEO stock opened at $96.47 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64. Diageo plc has a fifty-two week low of $84.52 and a fifty-two week high of $116.69. The business’s 50 day moving average price is $90.94 and its 200-day moving average price is $96.12.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DEO shares. Sanford C. Bernstein set a $124.00 price objective on Diageo and gave the stock an “outperform” rating in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Diageo in a report on Friday, November 28th. UBS Group reissued a “neutral” rating on shares of Diageo in a research note on Wednesday, December 3rd. Royal Bank Of Canada upgraded Diageo from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Finally, Barclays reaffirmed an “overweight” rating on shares of Diageo in a research note on Thursday, December 11th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.