Massachusetts Financial Services Co. MA Reduces Stake in Diageo plc (NYSE:DEO)

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Massachusetts Financial Services Co. MA lowered its holdings in Diageo plc (NYSE:DEO) by 0.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 646,312 shares of the company’s stock after selling 2,348 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Diageo were worth $105,685,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DEO. TRUE Private Wealth Advisors purchased a new position in shares of Diageo in the 2nd quarter valued at approximately $29,000. Meridian Wealth Management LLC purchased a new position in shares of Diageo in the 2nd quarter valued at approximately $33,000. Squar Milner Financial Services LLC lifted its stake in shares of Diageo by 169.9% in the 3rd quarter. Squar Milner Financial Services LLC now owns 197 shares of the company’s stock valued at $32,000 after purchasing an additional 124 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in shares of Diageo in the 3rd quarter valued at approximately $37,000. Finally, Manchester Financial Inc. purchased a new position in shares of Diageo in the 2nd quarter valued at approximately $45,000. Institutional investors and hedge funds own 9.47% of the company’s stock.

A number of research analysts have recently commented on the company. Sanford C. Bernstein upgraded Diageo from an “underperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Morgan Stanley reiterated an “overweight” rating on shares of Diageo in a research note on Thursday, October 24th. Societe Generale cut Diageo from a “buy” rating to a “sell” rating in a research note on Thursday, September 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded Diageo from a “sell” rating to a “hold” rating and set a $171.00 price objective for the company in a research note on Monday, November 4th. Finally, ValuEngine cut Diageo from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $171.00.

NYSE:DEO traded up $0.51 during trading hours on Thursday, reaching $160.87. 3,312 shares of the company traded hands, compared to its average volume of 324,792. The business’s 50-day moving average price is $161.79 and its two-hundred day moving average price is $167.06. The stock has a market capitalization of $104.27 billion, a P/E ratio of 23.83, a P/E/G ratio of 2.78 and a beta of 0.45. Diageo plc has a 1 year low of $137.24 and a 1 year high of $176.22. The company has a current ratio of 1.34, a quick ratio of 0.56 and a debt-to-equity ratio of 1.06.

Diageo Company Profile

Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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