Erste Asset Management GmbH Invests $7.33 Million in Diageo plc (NYSE:DEO)

Erste Asset Management GmbH acquired a new stake in Diageo plc (NYSE:DEO) in the 3rd quarter, Holdings Channel reports. The firm acquired 52,237 shares of the company’s stock, valued at approximately $7,331,000.

Other institutional investors also recently modified their holdings of the company. Citigroup Inc. increased its stake in Diageo by 4.4% in the third quarter. Citigroup Inc. now owns 158,428 shares of the company’s stock valued at $22,234,000 after purchasing an additional 6,617 shares in the last quarter. FMR LLC boosted 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. CIBC Asset Management Inc grew its stake in shares of Diageo by 106.2% in the 3rd quarter. CIBC Asset Management Inc now owns 31,643 shares of the company’s stock valued at $4,441,000 after buying an additional 16,300 shares during the period. Grandfield & Dodd LLC increased its position in Diageo by 2.3% in the 3rd quarter. Grandfield & Dodd LLC now owns 240,013 shares of the company’s stock valued at $33,684,000 after buying an additional 5,460 shares in the last quarter. Finally, Confluence Investment Management LLC raised its stake in Diageo by 30.5% during the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after buying an additional 284,046 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DEO shares. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Diageo has a consensus rating of “Hold”.

Diageo Trading Up 0.6 %

DEO opened at $119.36 on Monday. 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 quick ratio of 0.55 and a current ratio of 1.53. The company’s 50-day moving average is $129.03 and its 200 day moving average is $130.21.

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.