Elgethun Capital Management Makes New $156,000 Investment in Diageo plc (NYSE:DEO)

Elgethun Capital Management bought a new position in shares of Diageo plc (NYSE:DEO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 899 shares of the company’s stock, valued at approximately $156,000.

A number of other large investors have also added to or reduced their stakes in DEO. Pinnacle Holdings LLC bought a new stake in shares of Diageo in the first quarter worth $33,000. Nemes Rush Group LLC acquired a new stake in shares of Diageo during the 2nd quarter valued at approximately $32,000. Close Asset Management Ltd lifted its stake in Diageo by 230.8% during the second quarter. Close Asset Management Ltd now owns 215 shares of the company’s stock worth $37,000 after purchasing an additional 150 shares during the last quarter. BDO Wealth Advisors LLC boosted its holdings in Diageo by 100.0% in the second quarter. BDO Wealth Advisors LLC now owns 248 shares of the company’s stock worth $43,000 after purchasing an additional 124 shares during the period. Finally, Fiduciary Alliance LLC bought a new stake in Diageo during the second quarter valued at $44,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Diageo from GBX 2,920 ($36.53) to GBX 2,950 ($36.91) in a research note on Friday, September 8th. Barclays lowered their price objective on Diageo from GBX 4,720 ($59.05) to GBX 4,440 ($55.55) in a research note on Wednesday, August 2nd. TD Cowen began coverage on shares of Diageo in a report on Friday, September 15th. They issued a “market perform” rating on the stock. Credit Suisse Group decreased their target price on shares of Diageo from GBX 3,850 ($48.17) to GBX 3,800 ($47.54) in a research report on Wednesday, August 9th. Finally, StockNews.com initiated coverage on Diageo in a report on Thursday, October 5th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Diageo has an average rating of “Hold” and an average target price of $3,898.33.

Diageo Price Performance

DEO traded up $0.20 during trading on Tuesday, reaching $141.24. The stock had a trading volume of 380,156 shares, compared to its average volume of 445,412. The stock has a 50 day moving average of $152.33 and a two-hundred day moving average of $165.26. The company has a quick ratio of 0.62, a current ratio of 1.63 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $79.44 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 3.08 and a beta of 0.71. Diageo plc has a 1-year low of $135.63 and a 1-year high of $191.93.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.