Fortitude Family Office LLC Has $304,000 Stock Position in Diageo plc (NYSE:DEO)

Fortitude Family Office LLC cut its stake in Diageo plc (NYSE:DEO) by 33.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,390 shares of the company’s stock after selling 1,181 shares during the quarter. Fortitude Family Office LLC’s holdings in Diageo were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Bank of Montreal Can raised its stake in Diageo by 1,034.5% during the second quarter. Bank of Montreal Can now owns 799,652 shares of the company’s stock worth $104,443,000 after acquiring an additional 729,166 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Diageo by 105.7% in the 3rd quarter. Natixis Advisors LLC now owns 949,411 shares of the company’s stock worth $133,240,000 after purchasing an additional 487,904 shares during the last quarter. FMR LLC increased its position in shares of Diageo by 9.1% during the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after purchasing an additional 437,646 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Diageo by 416.0% during the 2nd quarter. Hsbc Holdings PLC now owns 521,920 shares of the company’s stock valued at $65,939,000 after purchasing an additional 420,778 shares during the last quarter. Finally, Raymond James & Associates boosted its position in Diageo by 52.3% in the third quarter. Raymond James & Associates now owns 853,640 shares of the company’s stock valued at $119,800,000 after buying an additional 293,017 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DEO has been the subject of several recent analyst reports. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. UBS Group raised Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, TD Cowen raised their target price on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Diageo has an average rating of “Hold” and an average price target of $129.00.

Diageo Stock Performance

Shares of Diageo stock opened at $125.40 on Friday. The firm has a 50 day simple moving average of $123.22 and a 200 day simple moving average of $128.36. Diageo plc has a fifty-two week low of $117.72 and a fifty-two week high of $154.71. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. The firm has a market cap of $69.76 billion, a P/E ratio of 16.97, a P/E/G ratio of 3.73 and a beta of 0.67.

Diageo 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.