First Trust Advisors LP Increases Position in Diageo plc $DEO

First Trust Advisors LP grew its position in Diageo plc (NYSE:DEO) by 2.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 392,747 shares of the company’s stock after purchasing an additional 11,122 shares during the period. First Trust Advisors LP owned approximately 0.07% of Diageo worth $37,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DEO. Twin Peaks Wealth Advisors LLC acquired a new stake in Diageo during the 2nd quarter worth about $26,000. Arlington Trust Co LLC increased its position in shares of Diageo by 3,885.7% in the third quarter. Arlington Trust Co LLC now owns 279 shares of the company’s stock valued at $27,000 after buying an additional 272 shares in the last quarter. Bell Investment Advisors Inc increased its holdings in Diageo by 94.7% in the 2nd quarter. Bell Investment Advisors Inc now owns 292 shares of the company’s stock worth $29,000 after acquiring an additional 142 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new stake in shares of Diageo during the third quarter worth about $29,000. Finally, HHM Wealth Advisors LLC raised 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 valued at $33,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Price Performance

Shares of NYSE:DEO opened at $76.78 on Friday. Diageo plc has a 52 week low of $75.77 and a 52 week high of $116.69. The company’s 50 day moving average is $90.75 and its two-hundred day moving average is $93.69. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DEO shares. Barclays reiterated an “overweight” rating on shares of Diageo in a research report on Thursday, December 11th. Sanford C. Bernstein set a $124.00 target price on Diageo and gave the company an “outperform” rating in a research 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. Finally, Royal Bank Of Canada upgraded shares of Diageo from a “sector perform” rating to an “outperform” rating in a report on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $116.50.

Diageo Company 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.