Zions Bancorporation National Association UT Buys New Shares in Diageo plc (NYSE:DEO)

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 bought a new position in Diageo plc (NYSE:DEO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 42,141 shares of the company's stock, valued at approximately $4,416,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DEO. Orion Capital Management LLC purchased a new stake in shares of Diageo during the fourth quarter worth $25,000. Perkins Coie Trust Co purchased a new stake in shares of Diageo during the first quarter worth $27,000. Barrett & Company Inc. purchased a new stake in shares of Diageo during the first quarter worth $27,000. Abound Financial LLC purchased a new stake in shares of Diageo during the first quarter worth $27,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Diageo during the first quarter worth $30,000. Hedge funds and other institutional investors own 8.97% of the company's stock.

Wall Street Analysts Forecast Growth

DEO has been the topic of several recent research reports. The Goldman Sachs Group upgraded Diageo from a "sell" rating to a "neutral" rating in a research report on Thursday. Morgan Stanley restated an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $129.00.

Diageo Price Performance

Shares of DEO stock traded up $0.39 on Friday, reaching $109.39. The company's stock had a trading volume of 1,049,914 shares, compared to its average volume of 1,610,333. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. Diageo plc has a 12-month low of $96.45 and a 12-month high of $142.73. The company has a market capitalization of $60.86 billion, a P/E ratio of 15.97, a PEG ratio of 3.31 and a beta of 0.53. The stock's 50 day simple moving average is $103.91 and its 200-day simple moving average is $108.22.

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.