Philip James Wealth Mangement LLC Raises Position in Diageo plc $DEO

Philip James Wealth Mangement LLC boosted its holdings in shares of Diageo plc (NYSE:DEO) by 41.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,791 shares of the company’s stock after buying an additional 13,684 shares during the period. Philip James Wealth Mangement LLC’s holdings in Diageo were worth $4,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DEO. CORDA Investment Management LLC. purchased a new stake in shares of Diageo in the 3rd quarter valued at about $14,329,000. Tanager Wealth Management LLP increased its position in shares of Diageo by 0.8% in the third quarter. Tanager Wealth Management LLP now owns 34,317 shares of the company’s stock worth $3,275,000 after purchasing an additional 264 shares during the last quarter. Moran Wealth Management LLC raised its stake in Diageo by 3.8% in the third quarter. Moran Wealth Management LLC now owns 43,625 shares of the company’s stock valued at $4,163,000 after purchasing an additional 1,608 shares in the last quarter. CX Institutional raised its stake in Diageo by 62.1% in the third quarter. CX Institutional now owns 1,611 shares of the company’s stock valued at $154,000 after purchasing an additional 617 shares in the last quarter. Finally, Galvin Gaustad & Stein LLC bought a new stake in Diageo during the third quarter valued at approximately $12,552,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Price Performance

NYSE DEO opened at $88.37 on Friday. The company has a 50-day simple moving average of $89.68 and a two-hundred day simple moving average of $98.02. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. Diageo plc has a 12-month low of $84.52 and a 12-month high of $125.94.

Wall Street Analysts Forecast Growth

DEO has been the topic of a number of research analyst reports. Barclays reissued an “overweight” rating on shares of Diageo in a report on Thursday, December 11th. Royal Bank Of Canada upgraded shares of Diageo from a “sector perform” rating to an “outperform” rating in a research report on Tuesday. Sanford C. Bernstein set a $124.00 price target on Diageo and gave the company an “outperform” rating in a research report on Monday, December 29th. Zacks Research lowered Diageo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Finally, Bank of America cut their price objective on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a report on Friday, September 26th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Diageo presently has a consensus rating of “Hold” and a consensus target price of $116.50.

Diageo Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.