Douglas Lane & Associates LLC Decreases Holdings in Diageo plc (NYSE:DEO)

Douglas Lane & Associates LLC reduced its position in Diageo plc (NYSE:DEO) by 20.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 357,815 shares of the company’s stock after selling 90,511 shares during the period. Douglas Lane & Associates LLC’s holdings in Diageo were worth $45,489,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DEO. Citigroup Inc. boosted its stake in Diageo by 4.4% in the 3rd quarter. Citigroup Inc. now owns 158,428 shares of the company’s stock worth $22,234,000 after purchasing an additional 6,617 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Diageo by 32.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 65,894 shares of the company’s stock valued at $9,248,000 after acquiring an additional 16,285 shares during the period. FMR LLC raised its stake in Diageo by 9.1% in the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after acquiring an additional 437,646 shares during the last quarter. Quantinno Capital Management LP lifted its position in Diageo by 420.5% during the 3rd quarter. Quantinno Capital Management LP now owns 39,189 shares of the company’s stock worth $5,500,000 after acquiring an additional 31,660 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Diageo by 106.2% during the 3rd quarter. CIBC Asset Management Inc now owns 31,643 shares of the company’s stock valued at $4,441,000 after purchasing an additional 16,300 shares during the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. UBS Group raised Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. TD Cowen boosted their target price on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research report on Wednesday. Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $129.00.

Diageo Price Performance

Shares of Diageo stock traded up $0.17 on Wednesday, reaching $125.05. The company’s stock had a trading volume of 403,088 shares, compared to its average volume of 1,017,865. Diageo plc has a 52-week low of $117.72 and a 52-week high of $154.71. The company has a market capitalization of $69.56 billion, a P/E ratio of 16.92, a PEG ratio of 3.73 and a beta of 0.67. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. The stock has a 50-day moving average price of $123.24 and a 200-day moving average price of $128.40.

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.