Janney Montgomery Scott LLC Boosts Stake in Diageo plc $DEO

Janney Montgomery Scott LLC increased its holdings in shares of Diageo plc (NYSE:DEO) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,333 shares of the company’s stock after acquiring an additional 8,287 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Diageo were worth $12,830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DEO. Brighton Jones LLC purchased a new position in shares of Diageo in the fourth quarter worth about $202,000. Russell Investments Group Ltd. boosted its holdings in Diageo by 17.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,952 shares of the company’s stock worth $399,000 after buying an additional 574 shares during the period. Invesco Ltd. grew its stake in Diageo by 5.3% in the 2nd quarter. Invesco Ltd. now owns 212,004 shares of the company’s stock valued at $21,379,000 after buying an additional 10,653 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Diageo by 87.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,234 shares of the company’s stock valued at $124,000 after buying an additional 575 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in Diageo during the 2nd quarter valued at $444,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Performance

Shares of DEO opened at $78.71 on Thursday. Diageo plc has a 12-month low of $72.45 and a 12-month high of $116.41. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 1.53. The stock has a 50-day moving average price of $81.60 and a 200-day moving average price of $84.41.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DEO shares. BNP Paribas Exane upgraded Diageo from an “underperform” rating to a “neutral” rating in a research report on Wednesday, March 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research note on Monday, April 20th. Zacks Research raised Diageo from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Loop Capital set a $99.00 target price on Diageo in a research note on Thursday, June 18th. Finally, TD Cowen raised Diageo from a “hold” rating to a “buy” rating and lifted their target price for the company from $88.00 to $93.00 in a report on Thursday, June 25th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $106.25.

Diageo Company 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.