Equity Investment Corp Makes New Investment in Diageo plc $DEO

Key Points

• Equity Investment Corp bought a new stake in Diageo plc of 974,222 shares (~$92.97 million) in Q3, representing roughly 0.18% of the company.
• Multiple other institutions increased their Q3 holdings and institutional investors now own about 8.97% of Diageo's stock.
• Analyst sentiment is mixed: the consensus rating is Hold with a $116.50 average price target, although some firms (notably RBC) have recently upgraded Diageo to Outperform.

Equity Investment Corp purchased a new stake in Diageo plc (NYSE:DEO - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 974,222 shares of the company's stock, valued at approximately $92,970,000. Equity Investment Corp owned approximately 0.18% of Diageo as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of DEO. Envestnet Asset Management Inc. grew its holdings in Diageo by 8.5% in the third quarter. Envestnet Asset Management Inc. now owns 1,547,626 shares of the company's stock worth $147,690,000 after purchasing an additional 121,008 shares during the last quarter. Premier Path Wealth Partners LLC lifted its holdings in shares of Diageo by 9.7% during the 3rd quarter. Premier Path Wealth Partners LLC now owns 12,064 shares of the company's stock valued at $1,151,000 after purchasing an additional 1,069 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in shares of Diageo by 1.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 8,534 shares of the company's stock worth $814,000 after purchasing an additional 140 shares in the last quarter. Atlantic Union Bankshares Corp grew its stake in Diageo by 24.5% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 4,513 shares of the company's stock worth $431,000 after buying an additional 887 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in Diageo by 16.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 33,257 shares of the company's stock worth $3,135,000 after buying an additional 4,723 shares during the last quarter. Institutional investors own 8.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DEO shares. UBS Group reiterated a "neutral" rating on shares of Diageo in a research note on Wednesday, December 3rd. Sanford C. Bernstein set a $124.00 price target on Diageo and gave the stock an "outperform" rating in a research note on Monday, December 29th. Royal Bank Of Canada upgraded shares of Diageo from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, January 6th. Barclays reissued an "overweight" rating on shares of Diageo in a research report on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Diageo in a report on Friday, November 28th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $116.50.

Diageo Stock Performance

NYSE:DEO opened at $93.11 on Wednesday. Diageo plc has a 1-year low of $84.52 and a 1-year high of $117.53. The company's fifty day moving average price is $88.94 and its 200-day moving average price is $96.48. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64.

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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