CIBC Asset Management Inc Raises Stock Holdings in Diageo plc (NYSE:DEO)

CIBC Asset Management Inc raised its stake in Diageo plc (NYSE:DEO) by 106.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,643 shares of the company’s stock after purchasing an additional 16,300 shares during the period. CIBC Asset Management Inc’s holdings in Diageo were worth $4,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Markel Group Inc. raised its stake in shares of Diageo by 0.5% during the 2nd quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock worth $172,315,000 after acquiring an additional 6,300 shares in the last quarter. Confluence Investment Management LLC grew its holdings in Diageo by 30.5% in the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after purchasing an additional 284,046 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Diageo by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock worth $142,165,000 after purchasing an additional 74,745 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Diageo by 2.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock valued at $139,504,000 after purchasing an additional 23,435 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Diageo by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 899,660 shares of the company’s stock worth $113,429,000 after purchasing an additional 15,363 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Performance

Shares of DEO stock opened at $118.92 on Tuesday. The business has a fifty day moving average of $131.38 and a 200 day moving average of $131.59. Diageo plc has a 1 year low of $117.84 and a 1 year high of $154.71. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53.

Analysts Set New Price Targets

Several brokerages recently issued reports on DEO. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Diageo currently has an average rating of “Hold”.

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.