Moors & Cabot Inc. Raises Position in Diageo plc (NYSE:DEO)

Moors & Cabot Inc. increased its holdings in Diageo plc (NYSE:DEO) by 20.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 15,585 shares of the company’s stock after acquiring an additional 2,655 shares during the quarter. Moors & Cabot Inc.’s holdings in Diageo were worth $2,187,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of Montreal Can raised its position in Diageo by 1,034.5% during the second quarter. Bank of Montreal Can now owns 799,652 shares of the company’s stock valued at $104,443,000 after purchasing an additional 729,166 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Diageo by 105.7% in the third quarter. Natixis Advisors LLC now owns 949,411 shares of the company’s stock worth $133,240,000 after purchasing an additional 487,904 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Diageo by 416.0% in the second quarter. Hsbc Holdings PLC now owns 521,920 shares of the company’s stock worth $65,939,000 after purchasing an additional 420,778 shares during the last quarter. Raymond James & Associates grew its stake in shares of Diageo by 52.3% in the third quarter. Raymond James & Associates now owns 853,640 shares of the company’s stock worth $119,800,000 after purchasing an additional 293,017 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its position in Diageo by 30.5% during the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after acquiring an additional 284,046 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Diageo Stock Performance

Shares of DEO stock opened at $119.44 on Thursday. Diageo plc has a 1 year low of $117.84 and a 1 year high of $154.71. The firm has a fifty day moving average price of $131.02 and a 200-day moving average price of $131.38. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55.

About Diageo

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.