Arrowstreet Capital Limited Partnership Has $4.75 Million Holdings in Diageo plc $DEO

Key Points

• Arrowstreet Capital increased its Diageo stake by 317.3% in the first quarter, purchasing 48,487 additional shares. Its 63,767-share position was valued at approximately $4.75 million.
• Several other major institutional investors also expanded their Diageo holdings, while institutional investors and hedge funds collectively owned 8.97% of the company’s stock.
• Diageo shares recently opened at $88.55, below the $106.25 analyst consensus target price. Analyst sentiment is mixed, with a consensus rating of Hold across six Buy, five Hold and two Sell ratings.

Arrowstreet Capital Limited Partnership increased its holdings in Diageo plc (NYSE:DEO - Free Report) by 317.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,767 shares of the company's stock after purchasing an additional 48,487 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Diageo were worth $4,747,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in shares of Diageo by 428.7% during the 4th quarter. Bank of Montreal Can now owns 2,173,047 shares of the company's stock valued at $187,469,000 after acquiring an additional 1,762,027 shares during the last quarter. Morgan Stanley lifted its holdings in Diageo by 32.4% in the 4th quarter. Morgan Stanley now owns 1,947,245 shares of the company's stock worth $167,989,000 after purchasing an additional 476,979 shares during the last quarter. Orbis Allan Gray Ltd lifted its holdings in Diageo by 12.4% in the 4th quarter. Orbis Allan Gray Ltd now owns 1,737,346 shares of the company's stock worth $149,881,000 after purchasing an additional 191,216 shares during the last quarter. Raymond James Financial Inc. boosted its position in Diageo by 48.5% during the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company's stock worth $162,410,000 after purchasing an additional 555,509 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Diageo by 53.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company's stock worth $102,124,000 after purchasing an additional 477,999 shares during the period. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Performance

Shares of NYSE:DEO opened at $88.55 on Tuesday. The business has a 50 day moving average price of $82.57 and a 200 day moving average price of $83.83. Diageo plc has a twelve month low of $72.45 and a twelve month high of $116.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings reiterated a "sell (d)" rating on shares of Diageo in a report on Friday, July 17th. Loop Capital set a $99.00 price objective on shares of Diageo in a research note on Thursday, June 18th. Zacks Research downgraded shares of Diageo from a "hold" rating to a "strong sell" rating in a report on Monday, July 27th. Finally, TD Cowen upgraded shares of Diageo from a "hold" rating to a "buy" rating and raised their target price for the company from $88.00 to $93.00 in a research note on Thursday, June 25th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $106.25.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange NYSE: DEO and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo's core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.

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