Entropy Technologies LP Has $3.65 Million Position in Diageo plc $DEO

Entropy Technologies LP lifted its holdings in shares of Diageo plc (NYSE:DEO) by 53.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 49,058 shares of the company’s stock after purchasing an additional 17,005 shares during the period. Entropy Technologies LP’s holdings in Diageo were worth $3,652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Spire Wealth Management raised its holdings in shares of Diageo by 123.6% in the fourth quarter. Spire Wealth Management now owns 322 shares of the company’s stock valued at $28,000 after buying an additional 178 shares during the last quarter. Sound Income Strategies LLC grew its holdings in Diageo by 8,000.0% during the 4th quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock worth $29,000 after acquiring an additional 320 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in Diageo during the 4th quarter worth about $30,000. Cassaday & Co Wealth Management LLC acquired a new stake in Diageo in the 1st quarter valued at about $34,000. Finally, Q Fund Management Hong Kong Ltd acquired a new stake in Diageo in the 4th quarter valued at about $43,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Trading Up 1.0%

Shares of DEO opened at $83.12 on Friday. The stock’s 50-day moving average price is $82.22 and its two-hundred day moving average price is $83.88. 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 1 year low of $72.45 and a 1 year high of $116.41.

Analysts Set New Price Targets

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

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.