WCM Investment Management LLC Makes New Investment in Diageo plc (NYSE:DEO)

WCM Investment Management LLC purchased a new stake in Diageo plc (NYSE:DEO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 23,046 shares of the company's stock, valued at approximately $2,429,000.

Other large investors also recently modified their holdings of the company. Kovitz Investment Group Partners LLC boosted its position in Diageo by 234.4% in 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 buying an additional 1,822,994 shares during the last quarter. Bank of Montreal Can raised its stake in 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 buying an additional 1,296,285 shares during the period. Raymond James Financial Inc. acquired a new stake in Diageo during the 4th quarter worth $123,892,000. FMR LLC raised its stake in shares of Diageo by 10.9% in the 4th quarter. FMR LLC now owns 5,813,938 shares of the company's stock valued at $739,126,000 after purchasing an additional 571,873 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Diageo by 39.9% in the 4th quarter. Northern Trust Corp now owns 649,769 shares of the company's stock valued at $82,605,000 after purchasing an additional 185,282 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Performance

Diageo stock traded down $1.91 during midday trading on Monday, reaching $102.82. 843,171 shares of the company's stock were exchanged, compared to its average volume of 969,716. Diageo plc has a 52 week low of $99.26 and a 52 week high of $142.73. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. The firm has a market cap of $57.20 billion, a price-to-earnings ratio of 15.01 and a beta of 0.56. The stock's 50-day simple moving average is $108.10 and its 200 day simple moving average is $111.35.

Analysts Set New Price Targets

Several analysts have issued reports on DEO shares. Berenberg Bank started coverage on Diageo in a research note on Wednesday, April 2nd. They issued a "buy" rating on the stock. Morgan Stanley restated an "underweight" rating on shares of Diageo in a report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Diageo currently has an average 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.