Entropy Technologies LP Purchases New Shares in Diageo plc (NYSE:DEO)

Entropy Technologies LP acquired a new position in shares of Diageo plc (NYSE:DEO) in the 4th quarter, Holdings Channel.com reports. The fund acquired 6,259 shares of the company’s stock, valued at approximately $796,000.

A number of other hedge funds have also bought and sold shares of the company. Procyon Advisors LLC lifted its stake in shares of Diageo by 16.1% during the 3rd quarter. Procyon Advisors LLC now owns 18,716 shares of the company’s stock worth $2,627,000 after acquiring an additional 2,594 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Diageo by 18.0% in the third quarter. Wedge Capital Management L L P NC now owns 61,763 shares of the company’s stock worth $8,668,000 after purchasing an additional 9,426 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in Diageo in the 3rd quarter worth about $216,000. Creative Planning lifted its holdings in Diageo by 11.6% during the 3rd quarter. Creative Planning now owns 47,970 shares of the company’s stock valued at $6,732,000 after buying an additional 4,980 shares in the last quarter. Finally, Iams Wealth Management LLC boosted its position in Diageo by 6.8% in the 3rd quarter. Iams Wealth Management LLC now owns 4,185 shares of the company’s stock valued at $587,000 after buying an additional 268 shares during the period. Institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

DEO has been the subject of several research analyst reports. TD Cowen boosted their price target on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Finally, UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $129.00.

Diageo Stock Performance

Shares of NYSE:DEO opened at $108.03 on Wednesday. The firm has a 50 day moving average of $122.13 and a 200 day moving average of $126.59. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.55. Diageo plc has a 52 week low of $107.24 and a 52 week high of $154.71.

Diageo Company Profile

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.