Ameriprise Financial Inc. Reduces Stock Position in Diageo plc (NYSE:DEO)

Ameriprise Financial Inc. lowered its stake in Diageo plc (NYSE:DEO) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,188 shares of the company’s stock after selling 3,666 shares during the quarter. Ameriprise Financial Inc.’s holdings in Diageo were worth $7,017,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DEO. CoreFirst Bank & Trust purchased a new position in shares of Diageo during the 4th quarter worth $25,000. Kestra Investment Management LLC purchased a new position in shares of Diageo during the 4th quarter worth $36,000. Heck Capital Advisors LLC purchased a new position in shares of Diageo during the 4th quarter worth $47,000. Crews Bank & Trust purchased a new position in shares of Diageo during the 4th quarter worth $51,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Diageo during the 4th quarter worth $51,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DEO. Berenberg Bank began coverage on shares of Diageo in a research note on Wednesday, April 2nd. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Diageo in a research note on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $129.00.

Diageo Stock Down 2.6%

Shares of DEO stock opened at $110.93 on Friday. The company has a market capitalization of $61.71 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 2.39 and a beta of 0.60. Diageo plc has a one year low of $100.72 and a one year high of $142.73. The company’s fifty day moving average price is $109.61 and its 200-day moving average price is $115.27. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67.

Diageo Company Profile

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.