Diageo plc $DEO Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its position in Diageo plc (NYSE:DEO) by 26.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,963 shares of the company’s stock after selling 7,676 shares during the quarter. NewEdge Wealth LLC’s holdings in Diageo were worth $1,968,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Diageo in the 2nd quarter worth $26,000. Arlington Trust Co LLC raised its stake in Diageo by 3,885.7% in the third quarter. Arlington Trust Co LLC now owns 279 shares of the company’s stock valued at $27,000 after buying an additional 272 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in Diageo by 94.7% in the second quarter. Bell Investment Advisors Inc now owns 292 shares of the company’s stock worth $29,000 after acquiring an additional 142 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in Diageo in the third quarter worth about $29,000. Finally, HHM Wealth Advisors LLC grew its stake in shares of Diageo by 76.5% during the second quarter. HHM Wealth Advisors LLC now owns 330 shares of the company’s stock worth $33,000 after acquiring an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Up 4.0%

DEO stock opened at $100.32 on Friday. Diageo plc has a 52-week low of $84.52 and a 52-week 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 company’s 50-day simple moving average is $91.17 and its 200-day simple moving average is $96.10.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DEO. Royal Bank Of Canada raised shares of Diageo from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Zacks Research cut shares of Diageo from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. UBS Group reiterated a “neutral” rating on shares of Diageo in a research note on Wednesday, December 3rd. Sanford C. Bernstein set a $124.00 target price on Diageo and gave the company an “outperform” rating in a research report on Monday, December 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research note on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Diageo currently has a consensus rating of “Hold” and an average target price of $116.50.

About Diageo

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.