Lazard Asset Management LLC Grows Stake in Diageo plc $DEO

Lazard Asset Management LLC raised its holdings in Diageo plc (NYSE:DEO) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 182,390 shares of the company’s stock after buying an additional 6,165 shares during the quarter. Lazard Asset Management LLC’s holdings in Diageo were worth $13,579,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in DEO. Spire Wealth Management lifted its stake in Diageo by 123.6% in the fourth quarter. Spire Wealth Management now owns 322 shares of the company’s stock worth $28,000 after acquiring an additional 178 shares during the period. Sound Income Strategies LLC increased its position in Diageo by 8,000.0% during the 4th quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock valued at $29,000 after purchasing an additional 320 shares during the period. Flagship Harbor Advisors LLC purchased a new position in Diageo during the 4th quarter valued at $30,000. Cassaday & Co Wealth Management LLC bought a new position in Diageo in the 1st quarter worth $34,000. Finally, Cromwell Holdings LLC bought a new position in Diageo in the 4th quarter worth $49,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. TD Cowen raised shares of Diageo from a “hold” rating to a “buy” rating and raised their target price for the stock from $88.00 to $93.00 in a research report on Thursday, June 25th. Loop Capital set a $99.00 price target on shares of Diageo in a research note on Thursday, June 18th. Zacks Research lowered shares of Diageo from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research report on Friday, July 17th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Diageo currently has a consensus rating of “Hold” and an average target price of $106.25.

Diageo Stock Performance

Shares of Diageo stock opened at $89.16 on Thursday. Diageo plc has a 12 month low of $72.45 and a 12 month high of $116.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. The business has a fifty day simple moving average of $82.43 and a two-hundred day simple moving average of $83.86.

About Diageo

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.