Manitou Investment Management Ltd. Raises Stake in Diageo PLC (DEO)
Manitou Investment Management Ltd. boosted its stake in Diageo PLC (NYSE:DEO) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,630 shares of the company’s stock after buying an additional 50 shares during the period. Diageo PLC accounts for about 4.1% of Manitou Investment Management Ltd.’s portfolio, making the stock its 10th largest position. Manitou Investment Management Ltd.’s holdings in Diageo PLC were worth $12,827,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in DEO. Wellington Management Group LLP raised its stake in shares of Diageo PLC by 17.2% in the first quarter. Wellington Management Group LLP now owns 4,442,049 shares of the company’s stock valued at $479,163,000 after buying an additional 653,461 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Diageo PLC during the second quarter valued at $16,434,000. DAVENPORT & Co LLC raised its stake in shares of Diageo PLC by 35.6% in the second quarter. DAVENPORT & Co LLC now owns 528,756 shares of the company’s stock valued at $59,686,000 after buying an additional 138,931 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Diageo PLC during the first quarter valued at $7,551,000. Finally, Confluence Investment Management LLC raised its stake in shares of Diageo PLC by 9.5% in the second quarter. Confluence Investment Management LLC now owns 678,279 shares of the company’s stock valued at $76,564,000 after buying an additional 59,021 shares during the last quarter. 10.97% of the stock is currently owned by institutional investors.
Diageo PLC (NYSE:DEO) traded up 0.39% during midday trading on Tuesday, hitting $108.15. The stock had a trading volume of 607,700 shares. The company has a market capitalization of $67.87 billion, a PE ratio of 23.86 and a beta of 0.78. Diageo PLC has a 52 week low of $99.59 and a 52 week high of $117.95. The company’s 50-day moving average price is $113.51 and its 200 day moving average price is $111.28.
The company also recently announced a dividend, which was paid on Wednesday, October 12th. Stockholders of record on Friday, August 12th were paid a dividend of $0.192 per share. The ex-dividend date was Wednesday, August 10th.
DEO has been the topic of several recent research reports. Credit Agricole SA initiated coverage on Diageo PLC in a report on Thursday, October 6th. They set a “buy” rating and a $130.00 price objective on the stock. Liberum Capital initiated coverage on Diageo PLC in a research note on Monday, October 3rd. They issued a “hold” rating on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Diageo PLC in a research note on Wednesday, September 7th. Goldman Sachs Group Inc. raised Diageo PLC from a “sell” rating to a “neutral” rating in a research note on Tuesday, June 28th. Finally, Beaufort Securities reaffirmed a “buy” rating on shares of Diageo PLC in a research note on Sunday, July 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $135.78.
About Diageo PLC
Diageo PLC is an alcoholic beverage company. The Company operates in various categories, including spirits and beer. Its geographic segments include North America; Europe, Russia and Turkey; Africa; Latin America and Caribbean, and Asia Pacific. Its principal products includes Scotch whisky, Gin, Vodka, Rum, Beer, Irish Cream Liqueur, Wine, Raki, Tequila, Canadian Whisky, American Whiskey, Progressive Adult Beverages, Cachaca, Brandy and Ready to Drink.
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