Great Lakes Advisors LLC Invests $1 Million in Diageo plc $DEO

Great Lakes Advisors LLC purchased a new stake in Diageo plc (NYSE:DEO) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,513 shares of the company’s stock, valued at approximately $1,003,000.

Other hedge funds also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Diageo during the 2nd quarter worth approximately $26,000. Arlington Trust Co LLC grew its position in shares of Diageo by 3,885.7% in the 3rd quarter. Arlington Trust Co LLC now owns 279 shares of the company’s stock valued at $27,000 after buying an additional 272 shares during the last quarter. Bell Investment Advisors Inc raised its stake in Diageo by 94.7% during the 2nd quarter. Bell Investment Advisors Inc now owns 292 shares of the company’s stock worth $29,000 after acquiring an additional 142 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new stake in Diageo in the third quarter valued at $29,000. Finally, HHM Wealth Advisors LLC grew its holdings in shares of Diageo by 76.5% during the second quarter. HHM Wealth Advisors LLC now owns 330 shares of the company’s stock worth $33,000 after purchasing an additional 143 shares during the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DEO has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Diageo in a research note on Friday, November 28th. Barclays restated an “overweight” rating on shares of Diageo in a research note on Thursday, December 11th. Royal Bank Of Canada upgraded shares of Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Zacks Research cut Diageo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Finally, Sanford C. Bernstein set a $124.00 price objective on Diageo and gave the stock an “outperform” rating in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $116.50.

Diageo Stock Performance

Shares of DEO opened at $92.75 on Monday. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. The stock’s 50 day moving average is $88.87 and its two-hundred day moving average is $96.63. Diageo plc has a twelve month low of $84.52 and a twelve month high of $121.49.

Diageo 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.