Principal Street Partners LLC Boosts Position in Diageo plc (NYSE:DEO)

Principal Street Partners LLC grew its position in Diageo plc (NYSE:DEO) by 99.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,844 shares of the company’s stock after buying an additional 2,418 shares during the quarter. Principal Street Partners LLC’s holdings in Diageo were worth $680,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Diageo in the 3rd quarter valued at approximately $25,000. FMR LLC raised its stake in Diageo by 9.1% in the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after purchasing an additional 437,646 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Diageo by 23.5% during the third quarter. Private Trust Co. NA now owns 3,274 shares of the company’s stock valued at $459,000 after buying an additional 623 shares during the period. Bank of Hawaii boosted its holdings in shares of Diageo by 5.4% during the third quarter. Bank of Hawaii now owns 2,886 shares of the company’s stock worth $405,000 after purchasing an additional 149 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. increased its stake in Diageo by 19.4% in the third quarter. Pekin Hardy Strauss Inc. now owns 40,104 shares of the company’s stock valued at $5,628,000 after purchasing an additional 6,505 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

NYSE DEO traded down $1.18 on Tuesday, reaching $119.21. The company had a trading volume of 144,443 shares, compared to its average volume of 763,296. The firm has a 50-day moving average of $130.23 and a 200-day moving average of $130.89. Diageo plc has a 1 year low of $117.72 and a 1 year high of $154.71. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62.

Wall Street Analysts Forecast Growth

DEO has been the topic of a number of research analyst reports. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. 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 given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About Diageo

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.