First Horizon Advisors Inc. Boosts Holdings in Diageo plc (NYSE:DEO)

First Horizon Advisors Inc. lifted its stake in Diageo plc (NYSE:DEO) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,389 shares of the company’s stock after buying an additional 429 shares during the period. First Horizon Advisors Inc.’s holdings in Diageo were worth $1,177,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Beacon Capital Management LLC increased its position in shares of Diageo by 777.3% in the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after acquiring an additional 171 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Diageo during the 2nd quarter valued at about $25,000. Triad Wealth Partners LLC bought a new position in Diageo in the 2nd quarter worth $25,000. Concord Wealth Partners bought a new stake in shares of Diageo during the third quarter valued at approximately $38,000. Finally, Bruce G. Allen Investments LLC grew its holdings in Diageo by 1,395.0% in the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock worth $42,000 after purchasing an additional 279 shares during the period. Institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Diageo Stock Performance

Shares of NYSE DEO opened at $118.23 on Friday. The firm has a 50-day simple moving average of $130.72 and a two-hundred day simple moving average of $131.29. Diageo plc has a 1 year low of $117.72 and a 1 year 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.

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.