DAVENPORT & Co LLC Reduces Position in Diageo plc (DEO)

DAVENPORT & Co LLC lowered its stake in Diageo plc (NYSE:DEO) by 0.8% during the 4th quarter, Holdings Channel reports. The firm owned 553,199 shares of the company’s stock after selling 4,360 shares during the period. Diageo comprises 1.0% of DAVENPORT & Co LLC’s holdings, making the stock its 24th largest position. DAVENPORT & Co LLC’s holdings in Diageo were worth $80,784,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Family Capital Trust Co purchased a new position in shares of Diageo during the 3rd quarter worth $119,000. Rockefeller Financial Services Inc. purchased a new position in shares of Diageo during the 3rd quarter worth $125,000. Tower Research Capital LLC TRC boosted its stake in shares of Diageo by 404.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,039 shares of the company’s stock worth $125,000 after acquiring an additional 833 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Diageo by 11.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,391 shares of the company’s stock worth $142,000 after acquiring an additional 142 shares during the last quarter. Finally, Bristlecone Advisors LLC purchased a new position in shares of Diageo during the 3rd quarter worth $185,000. Institutional investors own 12.04% of the company’s stock.

Several brokerages have recently weighed in on DEO. Jefferies Group set a $157.00 price target on shares of Diageo and gave the stock a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research upgraded shares of Diageo from a “hold” rating to a “buy” rating and set a $162.00 price objective on the stock in a research report on Wednesday, January 10th. Finally, Evercore ISI started coverage on shares of Diageo in a research report on Thursday, September 28th. They set an “outperform” rating and a $152.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $156.00.

Shares of Diageo plc (DEO) traded up $2.71 during mid-day trading on Wednesday, hitting $145.85. 195,911 shares of the stock traded hands, compared to its average volume of 449,830. The company has a market cap of $90,420.00, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 2.89 and a beta of 0.75. Diageo plc has a 12-month low of $106.34 and a 12-month high of $147.06. The company has a quick ratio of 0.58, a current ratio of 1.30 and a debt-to-equity ratio of 0.58.

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Diageo Profile

Diageo PLC is an alcoholic beverage company. The Company operates in various categories, including spirits and beer. Its geographic segments include North America; Europe, Russia and Turkey; Africa; Latin America and Caribbean, and Asia Pacific. Its principal products includes Scotch whisky, Gin, Vodka, Rum, Beer, Irish Cream Liqueur, Wine, Raki, Tequila, Canadian Whisky, American Whiskey, Progressive Adult Beverages, Cachaca, Brandy and Ready to Drink.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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