Grimes & Company Inc. Trims Holdings in Diageo plc (NYSE:DEO)

Grimes & Company Inc. lowered its holdings in shares of Diageo plc (NYSE:DEO) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,506 shares of the company’s stock after selling 317 shares during the period. Grimes & Company Inc.’s holdings in Diageo were worth $367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC acquired a new stake in shares of Diageo in the 4th quarter worth $202,000. Savant Capital LLC raised its holdings in Diageo by 5.0% during the fourth quarter. Savant Capital LLC now owns 1,864 shares of the company’s stock worth $237,000 after purchasing an additional 88 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Diageo by 23.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,862 shares of the company’s stock worth $361,000 after purchasing an additional 539 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its position in Diageo by 9.6% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 2,641 shares of the company’s stock valued at $336,000 after purchasing an additional 231 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in Diageo by 3.6% in the 4th quarter. Sanctuary Advisors LLC now owns 77,710 shares of the company’s stock valued at $9,447,000 after purchasing an additional 2,702 shares in the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Price Performance

Diageo stock opened at $102.31 on Wednesday. The firm has a market capitalization of $56.92 billion, a PE ratio of 14.94 and a beta of 0.58. Diageo plc has a 52 week low of $100.72 and a 52 week high of $142.73. The firm’s 50-day simple moving average is $110.26 and its 200 day simple moving average is $113.69. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DEO shares. Berenberg Bank began coverage on Diageo in a research note on Wednesday, April 2nd. They issued a “buy” rating on the stock. Morgan Stanley reissued an “underweight” rating on shares of Diageo in a report on Monday, May 12th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. 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 company’s stock. According to MarketBeat.com, Diageo has a consensus rating of “Hold” and an average price target of $129.00.

About Diageo

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.