Lazard Asset Management LLC Has $38.99 Million Position in Diageo plc (NYSE:DEO)

Lazard Asset Management LLC increased its stake in Diageo plc (NYSE:DEO) by 393.1% in the first quarter, Holdings Channel reports. The institutional investor owned 238,339 shares of the company’s stock after acquiring an additional 190,003 shares during the period. Lazard Asset Management LLC’s holdings in Diageo were worth $38,994,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DEO. Centerpoint Advisors LLC bought a new stake in Diageo in the fourth quarter worth $26,000. Financial Gravity Wealth Inc. bought a new stake in Diageo in the first quarter worth $27,000. Acima Private Wealth LLC bought a new stake in Diageo in the fourth quarter worth $29,000. Claybrook Capital LLC bought a new stake in Diageo in the fourth quarter worth $30,000. Finally, Capital Investment Advisory Services LLC bought a new stake in Diageo in the fourth quarter worth $31,000. Institutional investors own 10.38% of the company’s stock.

DEO has been the subject of a number of analyst reports. Investec downgraded Diageo from a “hold” rating to a “sell” rating in a research report on Monday, March 25th. Barclays initiated coverage on Diageo in a research report on Monday, April 1st. They issued an “overweight” rating for the company. Finally, Zacks Investment Research upgraded Diageo from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $165.75.

Shares of NYSE:DEO traded up $1.63 on Wednesday, hitting $174.22. 7,992 shares of the company’s stock were exchanged, compared to its average volume of 368,197. Diageo plc has a 12 month low of $131.43 and a 12 month high of $173.87. The company has a market cap of $106.36 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 3.08 and a beta of 0.50. The company has a current ratio of 1.48, a quick ratio of 0.73 and a debt-to-equity ratio of 0.94.

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

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