Malaga Cove Capital LLC Acquires 100 Shares of Diageo plc (NYSE:DEO)

Malaga Cove Capital LLC raised its holdings in shares of Diageo plc (NYSE:DEO) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,001 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Malaga Cove Capital LLC’s holdings in Diageo were worth $421,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Clearbridge Investments LLC lifted its holdings in Diageo by 7.0% during the 1st quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock valued at $349,785,000 after buying an additional 154,497 shares in the last quarter. Markel Group Inc. raised its stake in shares of Diageo by 0.5% during the second quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock valued at $172,315,000 after acquiring an additional 6,300 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Diageo by 7.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after purchasing an additional 74,745 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Diageo by 2.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock worth $139,504,000 after purchasing an additional 23,435 shares in the last quarter. Finally, Confluence Investment Management LLC increased its holdings in Diageo by 10.5% during the 2nd quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock worth $117,474,000 after purchasing an additional 88,159 shares during the period. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Down 3.5 %

NYSE:DEO opened at $119.60 on Thursday. The company’s 50-day simple moving average is $132.96 and its 200-day simple moving average is $132.72. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. Diageo plc has a fifty-two week low of $118.35 and a fifty-two week high of $161.64.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Finally, Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.