Diageo plc (NYSE:DEO) Shares Sold by Salvus Wealth Management LLC

Salvus Wealth Management LLC reduced its stake in Diageo plc (NYSE:DEO) by 26.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,200 shares of the company’s stock after selling 1,876 shares during the period. Salvus Wealth Management LLC’s holdings in Diageo were worth $545,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of DEO. Kovitz Investment Group Partners LLC lifted its holdings in shares of Diageo by 234.4% in the 4th 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 grew its position in Diageo by 1,181.5% in the 4th quarter. Bank of Montreal Can now owns 1,406,004 shares of the company’s stock valued at $178,745,000 after buying an additional 1,296,285 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Diageo in the fourth quarter valued at about $123,892,000. FMR LLC boosted its holdings in Diageo by 10.9% in the 4th 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 in the last quarter. Finally, ABC Arbitrage SA acquired a new position in Diageo during the fourth quarter worth $37,777,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Price Performance

Shares of NYSE:DEO opened at $110.82 on Thursday. The firm has a market cap of $61.65 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 2.39 and a beta of 0.58. The business has a fifty day simple moving average of $110.09 and a 200 day simple moving average of $114.57. Diageo plc has a 1 year low of $100.72 and a 1 year high of $142.73. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “underweight” rating on shares of Diageo in a research note on Monday, May 12th. Berenberg Bank assumed coverage on Diageo in a research report on Wednesday, April 2nd. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $129.00.

Diageo Company 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.