Grimes & Company Inc. Increases Stock Position in Diageo plc (NYSE:DEO)

Grimes & Company Inc. boosted its stake in Diageo plc (NYSE:DEO) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,823 shares of the company’s stock after purchasing an additional 162 shares during the quarter. Grimes & Company Inc.’s holdings in Diageo were worth $486,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Global Retirement Partners LLC lifted its stake in Diageo by 1.1% in the 3rd quarter. Global Retirement Partners LLC now owns 8,146 shares of the company’s stock worth $1,143,000 after purchasing an additional 85 shares in the last quarter. Diversified Trust Co lifted its stake in Diageo by 5.6% in the 4th quarter. Diversified Trust Co now owns 1,855 shares of the company’s stock worth $236,000 after purchasing an additional 98 shares in the last quarter. Malaga Cove Capital LLC lifted its stake in Diageo by 3.4% in the 3rd quarter. Malaga Cove Capital LLC now owns 3,001 shares of the company’s stock worth $421,000 after purchasing an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in shares of Diageo by 4.7% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 2,542 shares of the company’s stock worth $357,000 after buying an additional 114 shares during the last quarter. Finally, Merit Financial Group LLC increased its holdings in shares of Diageo by 6.2% in the 4th quarter. Merit Financial Group LLC now owns 2,000 shares of the company’s stock worth $254,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DEO. TD Cowen boosted their target price on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Diageo has an average rating of “Hold” and a consensus target price of $129.00.

Diageo Price Performance

Shares of NYSE:DEO opened at $124.53 on Friday. The firm’s 50 day simple moving average is $122.62 and its 200-day simple moving average is $127.60. Diageo plc has a one year low of $113.99 and a one 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.

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.