Envestnet Asset Management Inc. Acquires 121,008 Shares of Diageo plc $DEO

Envestnet Asset Management Inc. increased its holdings in shares of Diageo plc (NYSE:DEO) by 8.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,547,626 shares of the company’s stock after acquiring an additional 121,008 shares during the period. Envestnet Asset Management Inc.’s holdings in Diageo were worth $147,690,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Premier Path Wealth Partners LLC lifted its position in shares of Diageo by 9.7% during the 3rd quarter. Premier Path Wealth Partners LLC now owns 12,064 shares of the company’s stock valued at $1,151,000 after acquiring an additional 1,069 shares during the period. Raleigh Capital Management Inc. increased its stake in Diageo by 1.7% in the third quarter. Raleigh Capital Management Inc. now owns 8,534 shares of the company’s stock valued at $814,000 after purchasing an additional 140 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Diageo by 24.5% during the third quarter. Atlantic Union Bankshares Corp now owns 4,513 shares of the company’s stock valued at $431,000 after purchasing an additional 887 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Diageo by 16.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 33,257 shares of the company’s stock worth $3,135,000 after purchasing an additional 4,723 shares in the last quarter. Finally, Allied Investment Advisors LLC boosted its position in shares of Diageo by 9.2% during the 3rd quarter. Allied Investment Advisors LLC now owns 86,830 shares of the company’s stock worth $8,286,000 after purchasing an additional 7,304 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DEO. Barclays reaffirmed an “overweight” rating on shares of Diageo in a research note on Thursday, December 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Diageo in a report on Friday, November 28th. UBS Group reiterated a “neutral” rating on shares of Diageo in a report on Wednesday, December 3rd. Zacks Research lowered shares of Diageo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada upgraded shares of Diageo from a “sector perform” rating to an “outperform” rating in a report on Tuesday, January 6th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $116.50.

Diageo Stock Performance

Shares of Diageo stock opened at $96.90 on Friday. The stock has a fifty day simple moving average of $89.30 and a 200 day simple moving average of $96.45. Diageo plc has a 12-month low of $84.52 and a 12-month high of $116.69. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64.

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.