Evelyn Partners Asset Management Ltd significantly increased its investment in Diageo plc, raising its position by an extraordinary 19,423.6% during the second quarter of 2023. According to the firm’s latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC), the institutional investor now holds 20,695 shares of Diageo, acquiring an additional 20,589 shares throughout the quarter. This stock now constitutes approximately 0.5% of Evelyn Partners’ overall portfolio, ranking as its 25th largest holding.
As of the end of the reporting period, Evelyn Partners’ holdings in Diageo were valued at around $2,087,000. This substantial investment comes as part of a broader trend among hedge funds actively trading shares of the well-known beverage company.
Several other institutional investors have also recently adjusted their positions in Diageo. For instance, Brighton Jones LLC acquired a new stake in the fourth quarter valued at $202,000. Meanwhile, Private Advisor Group LLC increased its holdings by 6.8% during the first quarter, now owning 8,267 shares worth approximately $866,000 after purchasing an additional 528 shares in the last quarter.
Similarly, Kestra Private Wealth Services LLC grew its stake by 2.1%, bringing its total to 5,345 shares valued at $560,000 after acquiring an additional 110 shares. Venturi Wealth Management LLC also increased its holdings by 3.6%, holding 2,582 shares worth around $271,000 following an acquisition of 89 shares.
Notably, Carnegie Investment Counsel made a remarkable adjustment, increasing its holdings in Diageo by 2,331.0%. The firm now possesses 41,036 shares, which are valued at approximately $4,178,000 after boosting its position with an additional 39,348 shares.
Institutional investors and hedge funds collectively own 8.97% of Diageo’s stock, reflecting a robust interest in the company among major financial players.
Market Performance and Company Overview
Diageo’s stock saw a 3.7% increase on Friday, opening at $92.00. Over the past year, Diageo has experienced a 52-week low of $86.57 and a 52-week high of $132.34. The company maintains a debt-to-equity ratio of 1.64, a quick ratio of 0.64, and a current ratio of 1.63. The stock’s average prices stand at $95.05 for the last 50 days and $103.11 for the last 200 days.
Diageo plc, headquartered in London, is one of the world’s largest producers of alcoholic beverages. Its extensive portfolio includes renowned spirits such as scotch, gin, vodka, rum, tequila, and whiskey from various countries, including Chinese, Canadian, Irish, and American varieties. The company also offers a range of beer and non-alcoholic products, catering to diverse consumer preferences globally.
As institutional involvement continues to shift, analysts will be closely monitoring these developments surrounding Diageo and its market performance.
