Perennial Advisors LLC Buys New Holdings in Diageo plc (NYSE:DEO)

Perennial Advisors LLC bought a new position in Diageo plc (NYSE:DEO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,219 shares of the company's stock, valued at approximately $1,426,000.

A number of other hedge funds have also recently modified their holdings of the stock. FMR LLC boosted its position in Diageo by 10.9% in the 4th quarter. FMR LLC now owns 5,813,938 shares of the company's stock worth $739,126,000 after purchasing an additional 571,873 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Diageo by 234.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company's stock valued at $330,627,000 after purchasing an additional 1,822,994 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Diageo by 0.3% in the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock valued at $195,883,000 after purchasing an additional 3,876 shares during the period. Bank of Montreal Can boosted its holdings in Diageo by 1,181.5% during the fourth quarter. Bank of Montreal Can now owns 1,406,004 shares of the company's stock worth $178,745,000 after buying an additional 1,296,285 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Diageo by 9.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company's stock worth $155,167,000 after buying an additional 103,540 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DEO. Morgan Stanley restated an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. Berenberg Bank assumed coverage on Diageo in a report on Wednesday, April 2nd. They issued a "buy" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $129.00.

Diageo Price Performance

DEO traded up $1.55 on Thursday, reaching $109.63. 708,839 shares of the company's stock were exchanged, compared to its average volume of 945,171. Diageo plc has a twelve month low of $100.72 and a twelve month high of $142.73. The stock has a market cap of $60.99 billion, a PE ratio of 16.00, a P/E/G ratio of 2.39 and a beta of 0.60. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The stock's fifty day moving average price is $109.74 and its 200-day moving average price is $114.93.

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.