First Trust Advisors LP Lowers Stake in Diageo plc $DEO

First Trust Advisors LP decreased its position in shares of Diageo plc (NYSE:DEO) by 2.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 381,625 shares of the company’s stock after selling 7,806 shares during the period. First Trust Advisors LP owned 0.07% of Diageo worth $38,483,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in Diageo in the fourth quarter valued at $202,000. National Bank of Canada FI increased its stake in shares of Diageo by 0.3% during the 1st quarter. National Bank of Canada FI now owns 51,513 shares of the company’s stock valued at $5,398,000 after acquiring an additional 136 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Diageo by 11.1% during the 1st quarter. Benjamin Edwards Inc. now owns 18,962 shares of the company’s stock worth $1,987,000 after acquiring an additional 1,893 shares during the period. Nuveen LLC purchased a new position in shares of Diageo during the 1st quarter worth about $1,060,000. Finally, HighTower Advisors LLC boosted its position in shares of Diageo by 0.7% in the first quarter. HighTower Advisors LLC now owns 94,584 shares of the company’s stock worth $9,911,000 after acquiring an additional 640 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on DEO shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research report on Wednesday, October 8th. UBS Group reissued a “neutral” rating on shares of Diageo in a research note on Wednesday, December 3rd. Zacks Research lowered Diageo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Bank of America lowered their price target on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Diageo in a research note on Friday, November 28th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $119.00.

Diageo Stock Performance

Shares of NYSE:DEO opened at $85.43 on Wednesday. The company has a 50 day moving average of $93.47 and a two-hundred day moving average of $100.96. Diageo plc has a 52-week low of $85.35 and a 52-week high of $132.34. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64.

Diageo 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.