GAMMA Investing LLC Purchases 151,061 Shares of Diageo plc (NYSE:DEO)

GAMMA Investing LLC grew its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 4,656.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,305 shares of the company's stock after acquiring an additional 151,061 shares during the quarter. GAMMA Investing LLC's holdings in Diageo were worth $16,170,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DEO. CoreFirst Bank & Trust bought a new position in Diageo during the fourth quarter valued at approximately $25,000. Orion Capital Management LLC bought a new position in shares of Diageo during the 4th quarter valued at $25,000. BNP Paribas purchased a new position in shares of Diageo in the 4th quarter worth $32,000. Measured Risk Portfolios Inc. purchased a new position in shares of Diageo in the 4th quarter worth $32,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Diageo in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 8.97% of the company's stock.

Wall Street Analysts Forecast Growth

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

Diageo Stock Performance

DEO traded up $2.11 during midday trading on Monday, reaching $107.24. The company had a trading volume of 1,086,320 shares, compared to its average volume of 950,241. The business has a 50-day moving average of $110.11 and a two-hundred day moving average of $114.32. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. Diageo plc has a 1 year low of $100.72 and a 1 year high of $142.73. The company has a market cap of $59.66 billion, a P/E ratio of 15.66, a P/E/G ratio of 2.39 and a beta of 0.58.

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.