Jennison Associates LLC Lowers Holdings in Diageo plc (NYSE:DEO)

Jennison Associates LLC reduced its holdings in shares of Diageo plc (NYSE:DEO) by 97.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,586 shares of the company’s stock after selling 59,312 shares during the period. Jennison Associates LLC’s holdings in Diageo were worth $259,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. acquired a new stake in shares of Diageo in the 1st quarter worth $27,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Diageo by 56.9% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 193 shares of the company’s stock worth $32,000 after acquiring an additional 70 shares during the period. Acima Private Wealth LLC acquired a new stake in shares of Diageo in the 4th quarter worth $29,000. Claybrook Capital LLC acquired a new stake in shares of Diageo in the 4th quarter worth $30,000. Finally, Capital Investment Advisory Services LLC acquired a new stake in shares of Diageo in the 4th quarter worth $31,000. Institutional investors own 10.38% of the company’s stock.

Shares of NYSE DEO opened at $173.00 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.48 and a debt-to-equity ratio of 0.94. Diageo plc has a 52 week low of $131.43 and a 52 week high of $174.73. The stock has a market capitalization of $106.12 billion, a P/E ratio of 27.24, a P/E/G ratio of 3.10 and a beta of 0.50.

DEO has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Diageo from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Barclays initiated coverage on shares of Diageo in a research note on Monday, April 1st. They issued an “overweight” rating for the company. Finally, Investec cut shares of Diageo from a “hold” rating to a “sell” rating in a research note on Monday, March 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $165.75.

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About Diageo

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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