Tower Bridge Advisors Cuts Position in Diageo plc (NYSE:DEO)

Tower Bridge Advisors cut its stake in Diageo plc (NYSE:DEO) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,245 shares of the company’s stock after selling 492 shares during the quarter. Tower Bridge Advisors’ holdings in Diageo were worth $12,849,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Safeguard Investment Advisory Group LLC purchased a new position in shares of Diageo in the 4th quarter valued at $33,000. Baron Silver Stevens Financial Advisors LLC purchased a new position in shares of Diageo in the 4th quarter valued at $34,000. Albion Financial Group UT acquired a new stake in shares of Diageo in the 4th quarter worth $35,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Diageo in the 1st quarter worth $36,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Diageo in the 4th quarter worth $36,000. Institutional investors and hedge funds own 10.41% of the company’s stock.

DEO has been the subject of a number of recent analyst reports. Morgan Stanley reissued an “overweight” rating on shares of Diageo in a research report on Thursday, May 13th. Credit Suisse Group reissued an “outperform” rating on shares of Diageo in a research report on Thursday, May 13th. Zacks Investment Research cut Diageo from a “buy” rating to a “hold” rating and set a $176.00 price objective for the company. in a research report on Tuesday, March 30th. Argus raised Diageo from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a research report on Friday, June 4th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Diageo in a research report on Thursday, May 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $188.33.

Shares of NYSE DEO traded down $1.52 during trading on Friday, reaching $193.43. 4,280 shares of the company traded hands, compared to its average volume of 428,293. The company has a fifty day moving average price of $183.94. The firm has a market cap of $113.15 billion, a PE ratio of 35.45, a P/E/G ratio of 3.73 and a beta of 0.67. Diageo plc has a 12-month low of $127.12 and a 12-month high of $195.88. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.91 and a current ratio of 1.77.

About Diageo

Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages. The company offers scotch, whisky, gin, vodka, rum, ready to drink products, Irish cream liqueur, raki, liqueur, wine, tequila, Canadian whisky, American whiskey, adult beverages, cachaça, spirits, and brandy, as well as beer, including cider and non-alcoholic products.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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