Waverly Advisors LLC Buys 2,661 Shares of Diageo plc (NYSE:DEO)

Waverly Advisors LLC raised its stake in Diageo plc (NYSE:DEO - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,034 shares of the company's stock after acquiring an additional 2,661 shares during the quarter. Waverly Advisors LLC's holdings in Diageo were worth $5,471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of DEO. Kovitz Investment Group Partners LLC grew its holdings in Diageo by 234.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company's stock valued at $330,627,000 after purchasing an additional 1,822,994 shares during the period. Bank of Montreal Can grew its stake in shares of Diageo by 1,181.5% during the 4th quarter. Bank of Montreal Can now owns 1,406,004 shares of the company's stock worth $178,745,000 after acquiring an additional 1,296,285 shares during the period. Raymond James Financial Inc. purchased a new stake in Diageo in the 4th quarter worth about $123,892,000. FMR LLC raised its stake in Diageo by 10.9% in the 4th quarter. FMR LLC now owns 5,813,938 shares of the company's stock valued at $739,126,000 after acquiring an additional 571,873 shares during the period. Finally, ABC Arbitrage SA purchased a new stake in Diageo during the fourth quarter valued at about $37,777,000. 8.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Morgan Stanley reiterated an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. Finally, Berenberg Bank started coverage on Diageo in a report on Wednesday, April 2nd. They set a "buy" rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $129.00.

Diageo Stock Performance

DEO traded down $1.70 during mid-day trading on Friday, reaching $109.16. 885,563 shares of the company traded hands, compared to its average volume of 944,778. The stock has a market capitalization of $60.73 billion, a P/E ratio of 15.94, a P/E/G ratio of 2.39 and a beta of 0.60. Diageo plc has a 52-week low of $100.72 and a 52-week high of $142.73. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The company's fifty day moving average price is $109.62 and its 200-day moving average price is $115.17.

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.