Diageo plc $DEO Shares Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC raised its stake in Diageo plc (NYSE:DEO) by 246.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 9,678 shares of the company’s stock after acquiring an additional 6,886 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Diageo were worth $720,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of Diageo by 428.7% during the 4th quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock worth $187,469,000 after acquiring an additional 1,762,027 shares in the last quarter. Morgan Stanley raised its position in shares of Diageo by 32.4% during the fourth quarter. Morgan Stanley now owns 1,947,245 shares of the company’s stock worth $167,989,000 after purchasing an additional 476,979 shares during the period. Orbis Allan Gray Ltd raised its position in shares of Diageo by 12.4% during the fourth quarter. Orbis Allan Gray Ltd now owns 1,737,346 shares of the company’s stock worth $149,881,000 after purchasing an additional 191,216 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of Diageo by 48.5% during the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock valued at $162,410,000 after purchasing an additional 555,509 shares during the last quarter. Finally, Markel Group Inc. lifted its holdings in shares of Diageo by 0.4% during the fourth quarter. Markel Group Inc. now owns 1,371,708 shares of the company’s stock valued at $118,337,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DEO. TD Cowen raised Diageo from a “hold” rating to a “buy” rating and lifted their price target for the stock from $88.00 to $93.00 in a research note on Thursday, June 25th. Zacks Research raised shares of Diageo from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Argus raised shares of Diageo to a “hold” rating in a research report on Tuesday, March 10th. Finally, BNP Paribas Exane upgraded shares of Diageo from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 25th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.25.

Diageo Stock Up 1.5%

Shares of NYSE DEO opened at $82.87 on Wednesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60. Diageo plc has a one year low of $72.45 and a one year high of $116.41. The business has a 50-day moving average price of $81.78 and a two-hundred day moving average price of $84.21.

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.