Gabelli Funds LLC Has $53.49 Million Stake in Diageo plc $DEO

Key Points

• Gabelli Funds LLC increased its stake in Diageo by 7.6% in Q3 to 560,550 shares — about 0.10% of the company — valued at roughly $53.49 million.
• Institutional and hedge funds collectively own about 8.97% of Diageo, with several smaller managers making modest increases in the third quarter.
• Analysts are mixed, with MarketBeat showing an average rating of Hold and an average price target of $116.50, well above the recent open near $81.87 and close to the 52‑week high of $116.69.

Gabelli Funds LLC increased its position in shares of Diageo plc (NYSE:DEO - Free Report) by 7.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 560,550 shares of the company's stock after acquiring an additional 39,700 shares during the period. Gabelli Funds LLC owned about 0.10% of Diageo worth $53,493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Diageo by 3.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 3,287 shares of the company's stock valued at $331,000 after acquiring an additional 96 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in Diageo by 3.5% during the 3rd quarter. Integrated Advisors Network LLC now owns 3,110 shares of the company's stock worth $297,000 after acquiring an additional 104 shares in the last quarter. Retirement Planning Co of New England Inc. grew its holdings in Diageo by 2.0% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 5,684 shares of the company's stock worth $542,000 after acquiring an additional 114 shares in the last quarter. Three Bridge Wealth Advisors LLC increased its position in Diageo by 2.0% during the 3rd quarter. Three Bridge Wealth Advisors LLC now owns 6,246 shares of the company's stock valued at $596,000 after purchasing an additional 124 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in Diageo by 10.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,341 shares of the company's stock valued at $135,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 8.97% of the company's stock.

Diageo Stock Performance

Shares of Diageo stock opened at $81.87 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. The firm's 50 day moving average price is $91.26 and its 200-day moving average price is $94.65. Diageo plc has a 52-week low of $80.79 and a 52-week high of $116.69.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Zacks Research cut shares of Diageo from a "hold" rating to a "strong sell" rating in a research report on Tuesday, November 11th. Royal Bank Of Canada raised shares of Diageo from a "sector perform" rating to an "outperform" rating in a report on Tuesday, January 6th. UBS Group reissued a "neutral" rating on shares of Diageo in a research note on Wednesday, December 3rd. Sanford C. Bernstein set a $124.00 target price on Diageo and gave the stock an "outperform" rating in a report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft restated 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, four have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $116.50.

Diageo Company Profile

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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