Canvas Wealth Advisors LLC Lowers Stock Position in Diageo plc (NYSE:DEO)

Canvas Wealth Advisors LLC decreased its holdings in shares of Diageo plc (NYSE:DEO) by 31.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,762 shares of the company’s stock after selling 1,696 shares during the period. Canvas Wealth Advisors LLC’s holdings in Diageo were worth $423,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DEO. CoreFirst Bank & Trust purchased a new position in Diageo in the fourth quarter worth $25,000. Orion Capital Management LLC purchased a new position in shares of Diageo in the 4th quarter valued at about $25,000. Perkins Coie Trust Co purchased a new position in shares of Diageo in the 1st quarter valued at about $27,000. Barrett & Company Inc. acquired a new stake in shares of Diageo in the first quarter valued at about $27,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Diageo in the first quarter valued at about $30,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Berenberg Bank initiated coverage on shares of Diageo in a report on Wednesday, April 2nd. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft raised Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of Diageo in a report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $129.00.

Diageo Stock Up 0.7%

DEO stock opened at $100.59 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The company’s 50 day simple moving average is $109.18 and its 200-day simple moving average is $112.76. Diageo plc has a 12 month low of $99.26 and a 12 month high of $142.73. The firm has a market capitalization of $55.96 billion, a PE ratio of 14.68 and a beta of 0.58.

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.