DAVENPORT & Co LLC Purchases 6,791 Shares of Diageo plc (NYSE:DEO)

DAVENPORT & Co LLC raised its position in Diageo plc (NYSE:DEO) by 8.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 86,249 shares of the company’s stock after purchasing an additional 6,791 shares during the quarter. DAVENPORT & Co LLC’s holdings in Diageo were worth $10,965,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DEO. Brooklyn Investment Group purchased a new position in Diageo during the 3rd quarter valued at about $25,000. Eastern Bank lifted its holdings in Diageo by 107.8% in the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after buying an additional 125 shares during the period. Modus Advisors LLC bought a new stake in shares of Diageo in the 4th quarter worth approximately $35,000. Concord Wealth Partners purchased a new position in shares of Diageo during the third quarter valued at approximately $38,000. Finally, Bruce G. Allen Investments LLC raised its holdings in shares of Diageo by 1,395.0% during the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock valued at $42,000 after acquiring an additional 279 shares in the last quarter. 8.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DEO has been the topic of a number of research analyst reports. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, TD Cowen increased their price target on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $129.00.

Diageo Stock Performance

DEO opened at $119.93 on Monday. Diageo plc has a 12-month low of $113.99 and a 12-month high of $154.71. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. The stock has a fifty day simple moving average of $122.93 and a two-hundred day simple moving average of $127.33.

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.