HB Wealth Management LLC Purchases 13,619 Shares of Diageo plc (NYSE:DEO)

Key Points

• HB Wealth Management LLC increased its stake in Diageo plc by 116.5%, owning 25,306 shares valued at approximately $2.65 million as of the latest SEC filing.
• Institutional investors collectively own 8.97% of Diageo's stock, with notable recent activity from several firms, including Thrivent Financial and JPMorgan Chase, which raised their stakes significantly.
• Analysts have mixed views on Diageo’s stock, with a current average rating of "Hold" and a consensus target price of $129.00.

HB Wealth Management LLC increased its holdings in Diageo plc (NYSE:DEO - Free Report) by 116.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,306 shares of the company's stock after buying an additional 13,619 shares during the quarter. HB Wealth Management LLC's holdings in Diageo were worth $2,652,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new position in shares of Diageo in the fourth quarter worth approximately $25,000. BNP Paribas purchased a new stake in shares of Diageo in the fourth quarter worth $32,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Diageo in the fourth quarter worth $32,000. Perkins Coie Trust Co purchased a new stake in shares of Diageo in the first quarter worth $27,000. Finally, Barrett & Company Inc. purchased a new stake in shares of Diageo in the first quarter worth $27,000. Hedge funds and other institutional investors own 8.97% of the company's stock.

Diageo Stock Down 1.6%

Diageo stock traded down $1.70 during midday trading on Wednesday, hitting $102.62. 944,565 shares of the company's stock were exchanged, compared to its average volume of 1,063,431. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. Diageo plc has a 12 month low of $99.26 and a 12 month high of $142.73. The firm has a 50-day moving average of $105.02 and a two-hundred day moving average of $109.09. The company has a market cap of $57.09 billion, a PE ratio of 14.98 and a beta of 0.56.

Analysts Set New Price Targets

Several equities analysts have recently commented on DEO shares. Berenberg Bank started coverage on shares of Diageo in a report on Wednesday, April 2nd. They issued a "buy" rating on the stock. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $129.00.

Diageo 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.