TCTC Holdings LLC Grows Holdings in Diageo plc (NYSE:DEO)

Key Points

• TCTC Holdings LLC increased its stake in Diageo plc by 34.0%, acquiring an additional 10,703 shares to bring its total holdings to 42,138 shares valued at approximately $4.42 million.
• Diageo's stock has seen a decline of 2.7%, with its current market price at $104.19, while the company holds a market cap of $57.96 billion.
• Research analysts have mixed opinions on Diageo, with one sell rating, three hold ratings, and four buy ratings, resulting in an average price target of $129.00.

TCTC Holdings LLC raised its position in shares of Diageo plc (NYSE:DEO - Free Report) by 34.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,138 shares of the company's stock after acquiring an additional 10,703 shares during the period. TCTC Holdings LLC's holdings in Diageo were worth $4,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of DEO. Kovitz Investment Group Partners LLC raised 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 worth $330,627,000 after acquiring an additional 1,822,994 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Diageo by 1,181.5% during the 4th quarter. Bank of Montreal Can now owns 1,406,004 shares of the company's stock worth $178,745,000 after acquiring an additional 1,296,285 shares in the last quarter. FMR LLC raised its holdings in shares of Diageo by 10.9% during the 4th quarter. FMR LLC now owns 5,813,938 shares of the company's stock worth $739,126,000 after acquiring an additional 571,873 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Diageo by 39.9% during the 4th quarter. Northern Trust Corp now owns 649,769 shares of the company's stock worth $82,605,000 after acquiring an additional 185,282 shares in the last quarter. Finally, Crestwood Advisors Group LLC purchased a new stake in Diageo during the 1st quarter valued at $16,944,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley restated an "underweight" rating on shares of Diageo in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $129.00.

Diageo Trading Down 0.8%

NYSE:DEO traded down $0.75 during midday trading on Friday, hitting $97.21. 1,362,907 shares of the company traded hands, compared to its average volume of 1,080,829. The firm's fifty day moving average is $104.54 and its 200-day moving average is $108.92. Diageo plc has a 12-month low of $97.10 and a 12-month high of $142.73. The firm has a market capitalization of $54.08 billion, a P/E ratio of 14.19 and a beta of 0.56. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62.

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.