Diageo plc $DEO Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lessened its stake in Diageo plc (NYSE:DEO) by 26.8% in the 3rd quarter, Holdings Channel.com reports. 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.

A number of other large investors also recently added to or reduced their stakes in DEO. Phillips Wealth Planners LLC grew its position in shares of Diageo by 8.2% in the third quarter. Phillips Wealth Planners LLC now owns 2,580 shares of the company’s stock valued at $244,000 after purchasing an additional 196 shares during the period. JPMorgan Chase & Co. lifted its stake in Diageo by 0.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,276,576 shares of the company’s stock valued at $121,824,000 after buying an additional 4,227 shares in the last quarter. Carson Advisory Inc. acquired a new stake in Diageo in the 3rd quarter worth about $407,000. Assetmark Inc. increased its stake in Diageo by 95.0% during the 3rd quarter. Assetmark Inc. now owns 229,780 shares of the company’s stock worth $21,928,000 after buying an additional 111,968 shares in the last quarter. Finally, Cibc World Market Inc. increased its stake in Diageo by 53.6% during the 3rd quarter. Cibc World Market Inc. now owns 163,220 shares of the company’s stock worth $15,576,000 after buying an additional 56,945 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DEO has been the topic of several research reports. Zacks Research downgraded Diageo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Diageo in a report on Friday, November 28th. Barclays reaffirmed an “overweight” rating on shares of Diageo in a report on Thursday, December 11th. Sanford C. Bernstein set a $124.00 price target on shares of Diageo and gave the stock an “outperform” rating in a research note on Monday, December 29th. Finally, UBS Group restated a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. 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. Based on data from MarketBeat, Diageo has an average rating of “Hold” and a consensus target price of $116.50.

Diageo Trading Up 4.0%

Shares of DEO opened at $100.32 on Friday. Diageo plc has a 12-month low of $84.52 and a 12-month high of $116.69. The firm has a 50-day moving average price of $91.17 and a 200 day moving average price of $96.10. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64.

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.