Canoe Financial LP Acquires 8,104,301 Shares of Diageo plc (NYSE:DEO)

Canoe Financial LP lifted its holdings in shares of Diageo plc (NYSE:DEO) by 88,407.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,113,468 shares of the company’s stock after buying an additional 8,104,301 shares during the period. Diageo comprises 15.0% of Canoe Financial LP’s holdings, making the stock its largest position. Canoe Financial LP owned approximately 1.46% of Diageo worth $1,031,465,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DEO. FMR LLC lifted its stake in Diageo by 9.1% in the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after acquiring an additional 437,646 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Diageo by 13.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock valued at $176,042,000 after purchasing an additional 147,920 shares during the last quarter. Confluence Investment Management LLC grew its holdings in Diageo by 30.5% during the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after purchasing an additional 284,046 shares during the period. JPMorgan Chase & Co. grew its holdings in Diageo by 25.9% during the third quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock worth $156,759,000 after purchasing an additional 229,946 shares during the period. Finally, Wellington Management Group LLP increased its position in Diageo by 6.9% during the third quarter. Wellington Management Group LLP now owns 991,459 shares of the company’s stock worth $139,141,000 after buying an additional 64,367 shares during the last quarter. Institutional investors own 8.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DEO shares. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Finally, TD Cowen upped their price objective on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Stock Up 1.2 %

NYSE:DEO opened at $118.75 on Friday. The stock has a 50 day simple moving average of $122.61 and a 200 day simple moving average of $127.93. Diageo plc has a 1-year low of $113.99 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.

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.