JPMorgan Chase & Co. Has $128.30 Million Stake in Diageo plc $DEO

JPMorgan Chase & Co. reduced its holdings in Diageo plc (NYSE:DEO) by 2.7% during the 2nd quarter, Holdings Channel reports. The fund owned 1,272,349 shares of the company’s stock after selling 35,662 shares during the quarter. JPMorgan Chase & Co.’s holdings in Diageo were worth $128,304,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Entropy Technologies LP increased its holdings in Diageo by 68.7% during the 2nd quarter. Entropy Technologies LP now owns 23,606 shares of the company’s stock valued at $2,380,000 after purchasing an additional 9,609 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Diageo during the second quarter worth $595,000. TD Waterhouse Canada Inc. grew its holdings in shares of Diageo by 13.1% during the second quarter. TD Waterhouse Canada Inc. now owns 19,902 shares of the company’s stock worth $2,066,000 after purchasing an additional 2,306 shares during the last quarter. HHM Wealth Advisors LLC increased its stake in shares of Diageo by 76.5% in the second quarter. HHM Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $33,000 after buying an additional 143 shares in the last quarter. Finally, Portside Wealth Group LLC raised its holdings in shares of Diageo by 4.3% in the second quarter. Portside Wealth Group LLC now owns 5,172 shares of the company’s stock valued at $522,000 after buying an additional 215 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DEO. Zacks Research lowered shares of Diageo from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Bank of America reduced their target price on shares of 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 raised shares of Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $119.00.

Diageo Price Performance

Diageo stock opened at $90.67 on Thursday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. Diageo plc has a 1 year low of $86.57 and a 1 year high of $132.34. The company’s 50-day moving average is $94.51 and its two-hundred day moving average is $102.51.

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.