Bank of New York Mellon Corp Increases Stock Position in Diageo plc $DEO

Bank of New York Mellon Corp raised its stake in shares of Diageo plc (NYSE:DEO) by 9.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,477 shares of the company’s stock after acquiring an additional 13,928 shares during the period. Bank of New York Mellon Corp’s holdings in Diageo were worth $11,948,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Glenview Trust Co raised its holdings in shares of Diageo by 3.7% in the 4th quarter. Glenview Trust Co now owns 2,928 shares of the company’s stock valued at $253,000 after buying an additional 104 shares during the period. Mission Wealth Management LP lifted its stake in Diageo by 4.0% during the 4th quarter. Mission Wealth Management LP now owns 2,992 shares of the company’s stock worth $258,000 after acquiring an additional 114 shares in the last quarter. Intrust Bank NA boosted its holdings in Diageo by 4.4% during the 4th quarter. Intrust Bank NA now owns 3,270 shares of the company’s stock valued at $282,000 after acquiring an additional 138 shares during the period. Elevation Point Wealth Partners LLC boosted its holdings in Diageo by 5.3% during the 4th quarter. Elevation Point Wealth Partners LLC now owns 2,792 shares of the company’s stock valued at $241,000 after acquiring an additional 141 shares during the period. Finally, Autumn Glory Partners LLC grew its position in Diageo by 1.5% in the 4th quarter. Autumn Glory Partners LLC now owns 9,908 shares of the company’s stock valued at $855,000 after acquiring an additional 143 shares in the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on DEO. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research note on Friday, July 17th. TD Cowen raised shares of Diageo from a “hold” rating to a “buy” rating and upped their target price for the stock from $88.00 to $93.00 in a research note on Thursday, June 25th. Loop Capital set a $99.00 target price on shares of Diageo in a report on Thursday, June 18th. Finally, Zacks Research cut shares of Diageo from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Diageo currently has a consensus rating of “Hold” and an average price target of $106.25.

Diageo Stock Down 1.1%

Shares of Diageo stock opened at $88.04 on Friday. The business has a 50-day simple moving average of $82.52 and a 200-day simple moving average of $83.89. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. Diageo plc has a one year low of $72.45 and a one year high of $116.41.

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.