Carnegie Investment Counsel Has $4.18 Million Stake in Diageo plc (NYSE:DEO)

Key Points

• Carnegie Investment Counsel significantly increased its stake in Diageo plc by 2,331.0%, acquiring 41,036 shares, which are now valued at approximately $4.18 million.
• Diageo's stock traded up 1.5% to reach $107.12, with an average price target from analysts set at $129.00.
• The company currently has a market capitalization of $59.6 billion, and a debt-to-equity ratio of 1.62.

Carnegie Investment Counsel raised its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 2,331.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 41,036 shares of the company's stock after purchasing an additional 39,348 shares during the quarter. Carnegie Investment Counsel's holdings in Diageo were worth $4,178,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in DEO. Venturi Wealth Management LLC increased its stake in Diageo by 3.6% in the first quarter. Venturi Wealth Management LLC now owns 2,582 shares of the company's stock valued at $271,000 after acquiring an additional 89 shares during the period. Old Port Advisors grew its stake in Diageo by 6.9% during the first quarter. Old Port Advisors now owns 14,059 shares of the company's stock worth $1,473,000 after buying an additional 911 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in Diageo by 19.8% during the first quarter. HighPoint Advisor Group LLC now owns 4,675 shares of the company's stock worth $519,000 after buying an additional 774 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in Diageo during the first quarter worth about $16,944,000. Finally, Gallacher Capital Management LLC grew its stake in Diageo by 40.9% during the first quarter. Gallacher Capital Management LLC now owns 3,327 shares of the company's stock worth $349,000 after buying an additional 965 shares during the last quarter. Institutional investors own 8.97% of the company's stock.

Diageo Trading Down 2.2%

NYSE DEO traded down $2.37 during trading hours on Monday, hitting $104.68. The company's stock had a trading volume of 526,377 shares, compared to its average volume of 1,057,103. The stock has a fifty day moving average of $105.42 and a 200 day moving average of $109.23. Diageo plc has a twelve month low of $99.26 and a twelve month high of $142.73. The firm has a market capitalization of $58.24 billion, a P/E ratio of 15.28 and a beta of 0.56. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Analyst Upgrades and Downgrades

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