Tectonic Advisors LLC Buys New Stake in Diageo plc (NYSE:DEO)

Tectonic Advisors LLC purchased a new position in shares of Diageo plc (NYSE:DEO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,708 shares of the company’s stock, valued at approximately $726,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of Diageo in the 3rd quarter valued at $25,000. Eastern Bank grew its position in Diageo by 107.8% in the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares in the last quarter. Concord Wealth Partners purchased a new stake in Diageo during the third quarter worth about $38,000. Modus Advisors LLC acquired a new stake in shares of Diageo during the fourth quarter worth about $35,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of Diageo by 1,395.0% in the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock valued at $42,000 after purchasing an additional 279 shares during the period. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. TD Cowen upped their price objective on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Finally, UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $129.00.

Diageo Stock Performance

Shares of Diageo stock opened at $111.52 on Thursday. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. Diageo plc has a 52-week low of $111.36 and a 52-week high of $154.71. The company has a 50 day moving average of $122.81 and a 200 day moving average of $127.13.

About Diageo

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.