Diageo plc (NYSE:DEO) Shares Bought by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC increased its stake in Diageo plc by 2,298.6% during the 1st quarter, acquiring an additional 20,205 shares and bringing its total holdings to 21,084 shares valued at approximately $2.2 million.
• Other institutional investors have also raised their positions in Diageo, with Kovitz Investment Group Partners LLC increasing their holdings by 234.4%, now owning over 2.6 million shares valued at $330.6 million.
• Diageo shares currently carry a consensus rating of "Hold" from analysts, with an average price target of $129.00.

Headlands Technologies LLC boosted its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 2,298.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 21,084 shares of the company's stock after acquiring an additional 20,205 shares during the period. Headlands Technologies LLC's holdings in Diageo were worth $2,209,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of DEO. Orion Capital Management LLC purchased a new position in shares of Diageo in the fourth quarter valued at approximately $25,000. Perkins Coie Trust Co purchased a new position in shares of Diageo in the first quarter valued at approximately $27,000. Barrett & Company Inc. purchased a new position in shares of Diageo in the first quarter valued at approximately $27,000. Abound Financial LLC purchased a new position in shares of Diageo in the first quarter valued at approximately $27,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Diageo in the first quarter valued at approximately $30,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Stock Performance

DEO stock traded up $1.70 on Monday, hitting $111.17. The company's stock had a trading volume of 718,183 shares, compared to its average volume of 1,113,717. The firm has a 50 day moving average of $103.91 and a two-hundred day moving average of $108.22. Diageo plc has a 1 year low of $96.45 and a 1 year high of $142.73. The stock has a market cap of $61.84 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 3.31 and a beta of 0.53. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DEO. The Goldman Sachs Group raised shares of Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday. Morgan Stanley reiterated an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $129.00.

About Diageo

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.