Bank of New York Mellon Corp Raises Stock Holdings in Diageo plc (NYSE:DEO)

Bank of New York Mellon Corp grew its position in shares of Diageo plc (NYSE:DEO - Free Report) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 362,145 shares of the company's stock after acquiring an additional 13,547 shares during the quarter. Bank of New York Mellon Corp owned about 0.07% of Diageo worth $37,949,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. World Investment Advisors increased its stake in Diageo by 13.2% during the first quarter. World Investment Advisors now owns 45,214 shares of the company's stock worth $4,738,000 after acquiring an additional 5,259 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in Diageo by 3.1% during the first quarter. OneDigital Investment Advisors LLC now owns 26,131 shares of the company's stock worth $2,738,000 after acquiring an additional 782 shares during the last quarter. D.A. Davidson & CO. increased its stake in Diageo by 713.3% during the first quarter. D.A. Davidson & CO. now owns 34,735 shares of the company's stock worth $3,640,000 after acquiring an additional 30,464 shares during the last quarter. R.H. Investment Group LLC increased its stake in Diageo by 9.1% during the first quarter. R.H. Investment Group LLC now owns 23,636 shares of the company's stock worth $2,477,000 after acquiring an additional 1,970 shares during the last quarter. Finally, McGinn Penninger Investment Management Inc. increased its stake in Diageo by 8.1% during the first quarter. McGinn Penninger Investment Management Inc. now owns 44,122 shares of the company's stock worth $4,624,000 after acquiring an additional 3,317 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Stock Up 0.1%

Shares of DEO stock traded up $0.11 during trading hours on Friday, reaching $103.27. The company had a trading volume of 676,825 shares, compared to its average volume of 990,322. 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 twelve month low of $99.26 and a twelve month high of $142.73. The company has a market capitalization of $57.45 billion, a P/E ratio of 15.08 and a beta of 0.56. The stock's fifty day simple moving average is $106.53 and its 200 day simple moving average is $110.29.

Analysts Set New Price Targets

DEO has been the subject of several research analyst reports. Berenberg Bank initiated coverage on Diageo in a research note on Wednesday, April 2nd. They set a "buy" rating for the company. Morgan Stanley restated an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $129.00.

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.