Prevatt Capital Ltd Decreases Stock Position in Diageo plc (NYSE:DEO)

Prevatt Capital Ltd lessened its position in Diageo plc (NYSE:DEO) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,000 shares of the company’s stock after selling 20,000 shares during the quarter. Diageo comprises 5.9% of Prevatt Capital Ltd’s holdings, making the stock its 11th largest position. Prevatt Capital Ltd’s holdings in Diageo were worth $20,341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Canoe Financial LP increased its holdings in shares of Diageo by 88,407.3% in the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after purchasing an additional 8,104,301 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Diageo by 234.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company’s stock valued at $330,627,000 after purchasing an additional 1,822,994 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Diageo by 1,181.5% in the fourth quarter. Bank of Montreal Can now owns 1,406,004 shares of the company’s stock valued at $178,745,000 after purchasing an additional 1,296,285 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Diageo in the fourth quarter valued at approximately $123,892,000. Finally, FMR LLC increased its holdings in shares of Diageo by 10.9% in the fourth quarter. FMR LLC now owns 5,813,938 shares of the company’s stock valued at $739,126,000 after purchasing an additional 571,873 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

NYSE:DEO opened at $112.88 on Thursday. Diageo plc has a 52 week low of $100.72 and a 52 week high of $143.32. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $62.79 billion, a P/E ratio of 16.48, a P/E/G ratio of 2.39 and a beta of 0.60. The stock’s fifty day moving average is $109.06 and its two-hundred day moving average is $115.83.

Wall Street Analyst Weigh In

Several research firms recently commented on DEO. Morgan Stanley reaffirmed an “underweight” rating on shares of Diageo in a report on Monday. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Berenberg Bank initiated coverage on Diageo in a research report on Wednesday, April 2nd. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $129.00.

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.