Malaga Cove Capital LLC Raises Holdings in Diageo plc (NYSE:DEO)

Malaga Cove Capital LLC grew its stake in shares of Diageo plc (NYSE:DEO) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,001 shares of the company’s stock after acquiring an additional 100 shares during the quarter. Malaga Cove Capital LLC’s holdings in Diageo were worth $421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Triad Wealth Partners LLC acquired a new position in Diageo during the 2nd quarter valued at approximately $25,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Diageo during the second quarter valued at $25,000. Beacon Capital Management LLC increased its position in shares of Diageo by 777.3% in the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after acquiring an additional 171 shares during the period. Concord Wealth Partners purchased a new position in Diageo in the 3rd quarter worth $38,000. Finally, Bruce G. Allen Investments LLC lifted its position in Diageo by 1,395.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock worth $42,000 after acquiring an additional 279 shares during the period. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Trading Down 3.5 %

Shares of DEO opened at $119.60 on Thursday. The stock’s 50-day moving average price is $132.96 and its 200-day moving average price is $132.72. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. Diageo plc has a 52 week low of $118.35 and a 52 week high of $161.64.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DEO. The Goldman Sachs Group lowered Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Finally, Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Diageo currently has an average rating of “Hold”.

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.