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

Pekin Hardy Strauss Inc. reduced its stake in shares of Diageo plc (NYSE:DEO) by 18.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DEO. Brighton Jones LLC bought a new position in shares of Diageo in the fourth quarter valued at about $202,000. CWM LLC boosted its position in shares of Diageo by 6.9% during the second quarter. CWM LLC now owns 3,099 shares of the company’s stock worth $312,000 after purchasing an additional 199 shares in the last quarter. Yousif Capital Management LLC grew its stake in Diageo by 8.4% in the second quarter. Yousif Capital Management LLC now owns 6,808 shares of the company’s stock valued at $687,000 after acquiring an additional 530 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Diageo by 8.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,588 shares of the company’s stock valued at $261,000 after purchasing an additional 195 shares during the period. Finally, Rehmann Capital Advisory Group increased its position in shares of Diageo by 36.2% during the second quarter. Rehmann Capital Advisory Group now owns 5,113 shares of the company’s stock worth $516,000 after acquiring an additional 1,358 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

DEO stock opened at $96.47 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64. The company has a 50 day simple moving average of $90.94 and a 200 day simple moving average of $96.12. Diageo plc has a 1 year low of $84.52 and a 1 year high of $116.69.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DEO shares. Zacks Research downgraded Diageo from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Barclays reaffirmed an “overweight” rating on shares of Diageo in a research report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Diageo in a research report on Friday, November 28th. 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. Finally, Sanford C. Bernstein set a $124.00 price target on Diageo and gave the stock an “outperform” rating in a research report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.