Patriot Financial Group Insurance Agency LLC Boosts Stock Position in Diageo plc (NYSE:DEO)

Patriot Financial Group Insurance Agency LLC boosted its position in Diageo plc (NYSE:DEO) by 21.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,794 shares of the company’s stock after purchasing an additional 1,576 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Diageo were worth $922,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DEO. Kovitz Investment Group Partners LLC grew its position in shares of Diageo by 234.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company’s stock worth $330,627,000 after buying an additional 1,822,994 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Diageo by 1,181.5% in the 4th quarter. Bank of Montreal Can now owns 1,406,004 shares of the company’s stock worth $178,745,000 after purchasing an additional 1,296,285 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Diageo during the 4th quarter worth $123,892,000. FMR LLC increased its position in Diageo by 10.9% during the 4th quarter. FMR LLC now owns 5,813,938 shares of the company’s stock valued at $739,126,000 after buying an additional 571,873 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new stake in Diageo in the fourth quarter valued at about $37,777,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Trading Down 0.1%

Shares of NYSE:DEO opened at $105.10 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. Diageo plc has a 52-week low of $100.72 and a 52-week high of $142.73. The stock has a market cap of $58.47 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 2.39 and a beta of 0.58. The business has a 50-day moving average price of $110.11 and a 200-day moving average price of $114.32.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DEO. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Berenberg Bank began coverage on shares of Diageo in a research note on Wednesday, April 2nd. They set a “buy” rating on the stock. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Diageo in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Diageo currently has an average rating of “Hold” and an average target price of $129.00.

Diageo Company Profile

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.