Entropy Technologies LP Buys 9,609 Shares of Diageo plc $DEO

Entropy Technologies LP boosted its position in Diageo plc (NYSE:DEO) by 68.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,606 shares of the company’s stock after purchasing an additional 9,609 shares during the quarter. Entropy Technologies LP’s holdings in Diageo were worth $2,380,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Confluence Investment Management LLC raised its stake in shares of Diageo by 14.0% during the 2nd quarter. Confluence Investment Management LLC now owns 1,350,826 shares of the company’s stock worth $136,217,000 after acquiring an additional 165,839 shares in the last quarter. Raymond James Financial Inc. grew its holdings in Diageo by 9.8% in the first quarter. Raymond James Financial Inc. now owns 1,069,567 shares of the company’s stock worth $112,080,000 after purchasing an additional 95,037 shares during the last quarter. Cambiar Investors LLC increased its position in shares of Diageo by 6.7% during the second quarter. Cambiar Investors LLC now owns 517,688 shares of the company’s stock worth $52,204,000 after purchasing an additional 32,430 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Diageo by 2.2% during the 1st quarter. LPL Financial LLC now owns 434,735 shares of the company’s stock valued at $45,556,000 after purchasing an additional 9,306 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its position in shares of Diageo by 11.7% in the 2nd quarter. Douglas Lane & Associates LLC now owns 419,290 shares of the company’s stock worth $42,281,000 after purchasing an additional 44,011 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors.

Diageo Trading Up 3.7%

Diageo stock opened at $92.00 on Friday. The stock has a 50-day moving average price of $95.05 and a 200 day moving average price of $103.11. Diageo plc has a 52 week low of $86.57 and a 52 week high of $132.34. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64.

Wall Street Analyst Weigh In

DEO has been the topic of several recent analyst reports. Bank of America reduced their target price on Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, September 26th. The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Diageo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $119.00.

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.