BROOKFIELD Corp ON Makes New $22.27 Million Investment in Diageo plc $DEO

BROOKFIELD Corp ON purchased a new stake in Diageo plc (NYSE:DEO) during the 1st quarter, Holdings Channel reports. The firm purchased 299,180 shares of the company’s stock, valued at approximately $22,274,000.

A number of other hedge funds also recently made changes to their positions in DEO. Spire Wealth Management boosted its position in shares of Diageo by 123.6% during the fourth quarter. Spire Wealth Management now owns 322 shares of the company’s stock worth $28,000 after buying an additional 178 shares during the period. Sound Income Strategies LLC grew its holdings in Diageo by 8,000.0% in the 4th quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock worth $29,000 after buying an additional 320 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Diageo in the 4th quarter valued at approximately $30,000. Cassaday & Co Wealth Management LLC acquired a new stake in Diageo in the 1st quarter valued at approximately $34,000. Finally, Cromwell Holdings LLC bought a new stake in Diageo during the 4th quarter valued at $49,000. Institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on DEO shares. TD Cowen upgraded Diageo from a “hold” rating to a “buy” rating and boosted their price target for the stock from $88.00 to $93.00 in a research report on Thursday, June 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Friday, July 17th. Loop Capital set a $99.00 price objective on shares of Diageo in a research note on Thursday, June 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Diageo presently has a consensus rating of “Hold” and an average target price of $106.25.

Diageo Stock Performance

NYSE DEO opened at $83.12 on Monday. Diageo plc has a 1 year low of $72.45 and a 1 year high of $116.41. The business’s fifty day moving average is $82.22 and its two-hundred day moving average is $83.84. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53.

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.