Tectonic Advisors LLC Invests $726,000 in Diageo plc (NYSE:DEO)

Tectonic Advisors LLC bought a new stake in shares of Diageo plc (NYSE:DEO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,708 shares of the company's stock, valued at approximately $726,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brooklyn Investment Group purchased a new stake in shares of Diageo during the third quarter valued at approximately $25,000. Eastern Bank lifted its holdings in Diageo by 107.8% in the fourth quarter. Eastern Bank now owns 241 shares of the company's stock valued at $31,000 after acquiring an additional 125 shares during the period. Modus Advisors LLC bought a new position in shares of Diageo in the 4th quarter worth approximately $35,000. Concord Wealth Partners purchased a new position in shares of Diageo during the 3rd quarter worth $38,000. Finally, Bruce G. Allen Investments LLC lifted its position in Diageo by 1,395.0% during the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company's stock valued at $42,000 after purchasing an additional 279 shares in the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Performance

DEO stock traded down $1.49 during mid-day trading on Friday, reaching $110.36. 976,660 shares of the stock traded hands, compared to its average volume of 1,096,495. Diageo plc has a one year low of $110.18 and a one year high of $154.71. The company has a current ratio of 1.60, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. The business has a 50-day moving average price of $122.35 and a two-hundred day moving average price of $126.77.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. TD Cowen upped their price target on shares of Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a research report on Wednesday, January 8th. Jefferies Financial Group raised Diageo from a "hold" rating to a "buy" rating in a research note on Thursday, December 5th. Finally, UBS Group raised shares of 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 given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $129.00.

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.