42,141 Shares in Diageo plc (NYSE:DEO) Purchased by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation National Association UT has acquired a new position in Diageo plc, purchasing 42,141 shares valued at approximately $4.42 million in the first quarter.
• Total institutional ownership of Diageo stock stands at 8.97%, with several other hedge funds also initiating positions recently.
• Diageo's stock rating has seen mixed reviews, with one analyst rating it as a "sell" and others suggesting a "hold" or "buy," culminating in an average price target of $129.00.

Zions Bancorporation National Association UT acquired a new position in shares of Diageo plc (NYSE:DEO - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 42,141 shares of the company's stock, valued at approximately $4,416,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in Diageo in the 4th quarter valued at $25,000. Perkins Coie Trust Co acquired a new stake in Diageo in the 1st quarter valued at $27,000. Barrett & Company Inc. acquired a new stake in Diageo in the 1st quarter valued at $27,000. Abound Financial LLC acquired a new stake in Diageo in the 1st quarter valued at $27,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Diageo in the 1st quarter valued at $30,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DEO. The Goldman Sachs Group upgraded shares of Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Morgan Stanley restated 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 issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Diageo currently has an average rating of "Hold" and a consensus target price of $129.00.

Diageo Stock Performance

Shares of DEO stock traded down $0.86 during midday trading on Wednesday, hitting $110.58. 873,024 shares of the company were exchanged, compared to its average volume of 1,115,517. The firm has a market capitalization of $61.52 billion, a P/E ratio of 16.14, a PEG ratio of 3.36 and a beta of 0.53. 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's 50 day moving average price is $104.04 and its two-hundred day moving average price is $108.15. Diageo plc has a 52 week low of $96.45 and a 52 week high of $142.73.

Diageo Company 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.