Diageo plc $DEO Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in Diageo plc (NYSE:DEO) by 24.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,525 shares of the company’s stock after selling 15,077 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Diageo were worth $3,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Third View Private Wealth LLC bought a new position in shares of Diageo during the 4th quarter valued at about $1,111,000. CORDA Investment Management LLC. raised its holdings in shares of Diageo by 14.5% in the 1st quarter. CORDA Investment Management LLC. now owns 169,084 shares of the company’s stock worth $12,588,000 after purchasing an additional 21,446 shares in the last quarter. Great Hill Capital LLC raised its holdings in shares of Diageo by 110.0% in the 4th quarter. Great Hill Capital LLC now owns 69,460 shares of the company’s stock worth $5,992,000 after purchasing an additional 36,391 shares in the last quarter. Philip James Wealth Mangement LLC lifted its stake in Diageo by 31.4% during the fourth quarter. Philip James Wealth Mangement LLC now owns 61,492 shares of the company’s stock valued at $5,305,000 after purchasing an additional 14,701 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in Diageo during the fourth quarter valued at approximately $2,237,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DEO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. TD Cowen upgraded Diageo from a “hold” rating to a “buy” rating and increased their price objective for the company from $88.00 to $93.00 in a research report on Thursday, June 25th. Loop Capital set a $99.00 price objective on Diageo in a research note on Thursday, June 18th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research note on Friday, July 17th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Diageo has a consensus rating of “Hold” and a consensus price target of $106.25.

Diageo Trading Up 4.4%

DEO opened at $88.90 on Wednesday. The stock has a fifty day moving average of $82.35 and a 200-day moving average of $83.84. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60. Diageo plc has a 12-month low of $72.45 and a 12-month high of $116.41.

Diageo Company Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.