Pekin Hardy Strauss Inc. Sells 9,144 Shares of Diageo plc $DEO

Pekin Hardy Strauss Inc. lessened its holdings in shares of Diageo plc (NYSE:DEO) by 18.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,258 shares of the company’s stock after selling 9,144 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Diageo were worth $3,746,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DEO. The Manufacturers Life Insurance Company raised its holdings in shares of Diageo by 72,871.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock valued at $158,133,000 after purchasing an additional 1,566,013 shares in the last quarter. Equity Investment Corp acquired a new position in Diageo during the third quarter worth $92,970,000. Orbis Allan Gray Ltd raised its holdings in Diageo by 236.6% during the second quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock valued at $116,772,000 after buying an additional 813,973 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Diageo by 353.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 717,740 shares of the company’s stock worth $72,377,000 after buying an additional 559,547 shares during the last quarter. Finally, Cullen Capital Management LLC lifted its position in shares of Diageo by 67.5% in the third quarter. Cullen Capital Management LLC now owns 1,309,258 shares of the company’s stock worth $124,943,000 after buying an additional 527,814 shares during the last quarter. 8.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

DEO has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Diageo in a report on Friday, November 28th. UBS Group reiterated a “neutral” rating on shares of Diageo in a report on Wednesday, December 3rd. Royal Bank Of Canada upgraded shares of Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Barclays reaffirmed an “overweight” rating on shares of Diageo in a report on Thursday, December 11th. Finally, Zacks Research downgraded shares of Diageo from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Diageo currently has a consensus rating of “Hold” and a consensus price target of $116.50.

Diageo Price Performance

DEO stock opened at $96.47 on Friday. Diageo plc has a twelve month low of $84.52 and a twelve month high of $116.69. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64. The business’s 50-day simple moving average is $90.94 and its 200 day simple moving average is $96.12.

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.