Bridgewater Advisors Inc. Purchases New Stake in Diageo plc (NYSE:DEO)

Bridgewater Advisors Inc. bought a new position in Diageo plc (NYSE:DEO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,241 shares of the company's stock, valued at approximately $359,000.

A number of other large investors have also added to or reduced their stakes in DEO. Charles Schwab Investment Management Inc. lifted its holdings in Diageo by 11.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 37,718 shares of the company's stock worth $4,795,000 after acquiring an additional 3,964 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Diageo by 16.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company's stock worth $14,488,000 after purchasing an additional 19,327 shares in the last quarter. Philip James Wealth Mangement LLC bought a new stake in shares of Diageo in the 1st quarter valued at $1,908,000. JPMorgan Chase & Co. increased its holdings in Diageo by 9.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company's stock worth $155,167,000 after buying an additional 103,540 shares during the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in Diageo by 30.1% during the first quarter. Miracle Mile Advisors LLC now owns 40,492 shares of the company's stock valued at $4,243,000 after purchasing an additional 9,366 shares during the last quarter. Institutional investors own 8.97% of the company's stock.

Diageo Stock Performance

Diageo stock traded up $0.14 during trading hours on Friday, reaching $103.30. 916,735 shares of the stock were exchanged, compared to its average volume of 992,361. The stock has a market cap of $57.47 billion, a P/E ratio of 15.08 and a beta of 0.56. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. Diageo plc has a 52-week low of $99.26 and a 52-week high of $142.73. The firm's 50 day moving average is $106.29 and its 200 day moving average is $110.01.

Wall Street Analysts Forecast Growth

DEO has been the topic of several recent analyst reports. Berenberg Bank assumed coverage on Diageo in a research note on Wednesday, April 2nd. They issued a "buy" rating on the stock. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $129.00.

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.