People s United Financial Inc. increased its position in Diageo plc (NYSE:DEO) by 7.0% in the third quarter, Holdings Channel reports. The institutional investor owned 18,843 shares of the company’s stock after acquiring an additional 1,240 shares during the period. People s United Financial Inc.’s holdings in Diageo were worth $2,669,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of DEO. Charles Schwab Investment Advisory Inc. acquired a new position in Diageo during the second quarter worth approximately $301,365,000. Morgan Stanley increased its position in Diageo by 18.9% during the second quarter. Morgan Stanley now owns 3,688,338 shares of the company’s stock worth $531,157,000 after purchasing an additional 586,255 shares during the last quarter. Bank of New York Mellon Corp increased its position in Diageo by 661.5% during the third quarter. Bank of New York Mellon Corp now owns 255,087 shares of the company’s stock worth $36,139,000 after purchasing an additional 221,590 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in Diageo by 42.3% during the third quarter. Public Employees Retirement Association of Colorado now owns 428,811 shares of the company’s stock worth $60,750,000 after purchasing an additional 127,547 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Diageo by 255.3% during the second quarter. Envestnet Asset Management Inc. now owns 174,314 shares of the company’s stock worth $25,104,000 after purchasing an additional 125,249 shares during the last quarter. 11.15% of the stock is owned by hedge funds and other institutional investors.
Shares of DEO stock opened at $142.15 on Thursday. Diageo plc has a one year low of $131.22 and a one year high of $151.30. The company has a quick ratio of 0.58, a current ratio of 1.37 and a debt-to-equity ratio of 0.71. The company has a market cap of $89.22 billion, a P/E ratio of 22.39, a P/E/G ratio of 2.64 and a beta of 0.63.
Separately, Zacks Investment Research raised shares of Diageo from a “sell” rating to a “hold” rating in a research report on Wednesday, September 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $158.40.
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Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.
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