Rockefeller Capital Management L.P. boosted its position in Diageo plc (NYSE:DEO) by 768.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,995 shares of the company’s stock after purchasing an additional 2,650 shares during the period. Rockefeller Capital Management L.P.’s holdings in Diageo were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in DEO. Charles Schwab Investment Advisory Inc. bought a new stake in Diageo in the second quarter worth about $301,365,000. Morgan Stanley lifted its stake in Diageo by 18.9% in the second quarter. Morgan Stanley now owns 3,688,338 shares of the company’s stock worth $531,157,000 after purchasing an additional 586,255 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in Diageo in the second quarter worth about $43,385,000. Cornerstone Wealth Management LLC bought a new stake in Diageo in the second quarter worth about $1,136,000. Finally, Envestnet Asset Management Inc. lifted its stake in Diageo by 255.3% in the second quarter. Envestnet Asset Management Inc. now owns 174,314 shares of the company’s stock worth $25,104,000 after purchasing an additional 125,249 shares during the last quarter. 11.32% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Diageo from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. Argus assumed coverage on shares of Diageo in a research note on Friday, July 13th. They issued a “buy” rating and a $168.00 price objective for the company. Finally, Goldman Sachs Group raised shares of Diageo from a “neutral” rating to a “buy” rating and set a $168.00 price objective for the company in a research note on Thursday, July 12th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $158.40.
Diageo Company Profile
Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.
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