Ironwood Investment Management LLC Raises Holdings in Diageo PLC (DEO)

Ironwood Investment Management LLC boosted its position in shares of Diageo PLC (NYSE:DEO) by 29.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 3,102 shares of the company’s stock after acquiring an additional 705 shares during the quarter. Ironwood Investment Management LLC’s holdings in Diageo PLC were worth $410,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Lincoln National Corp lifted its holdings in shares of Diageo PLC by 20.5% in the 3rd quarter. Lincoln National Corp now owns 2,849 shares of the company’s stock valued at $376,000 after buying an additional 485 shares during the period. First Merchants Corp purchased a new position in shares of Diageo PLC in the 3rd quarter valued at about $279,000. Cumberland Partners Ltd purchased a new position in shares of Diageo PLC in the 3rd quarter valued at about $1,246,000. Tocqueville Asset Management L.P. increased its stake in shares of Diageo PLC by 5.5% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 395,463 shares of the company’s stock valued at $52,253,000 after purchasing an additional 20,495 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Diageo PLC by 5.5% in the 3rd quarter. IFP Advisors Inc now owns 9,861 shares of the company’s stock valued at $1,303,000 after purchasing an additional 515 shares in the last quarter. 11.69% of the stock is owned by institutional investors and hedge funds.

Shares of Diageo PLC (NYSE DEO) traded up $1.00 during mid-day trading on Monday, reaching $136.81. 103,802 shares of the company’s stock were exchanged, compared to its average volume of 359,844. Diageo PLC has a 52-week low of $99.46 and a 52-week high of $137.59. The company has a current ratio of 1.30, a quick ratio of 0.58 and a debt-to-equity ratio of 0.58.

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Several equities analysts recently weighed in on DEO shares. BidaskClub lowered Diageo PLC from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Sanford C. Bernstein upgraded Diageo PLC from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $142.36 to $153.00 in a report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $154.20 price objective (up from $142.25) on shares of Diageo PLC in a report on Friday, September 1st. Zacks Investment Research upgraded Diageo PLC from a “hold” rating to a “buy” rating and set a $149.00 price objective on the stock in a report on Tuesday, August 22nd. Finally, Berenberg Bank cut Diageo PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $152.35.

Diageo PLC Company Profile

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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Institutional Ownership by Quarter for Diageo PLC (NYSE:DEO)

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