M&T Bank Corp Sells 643 Shares of Diageo plc (NYSE:DEO)

M&T Bank Corp reduced its stake in shares of Diageo plc (NYSE:DEO) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,780 shares of the company’s stock after selling 643 shares during the period. M&T Bank Corp’s holdings in Diageo were worth $3,226,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of DEO. Brighton Jones LLC bought a new position in Diageo during the 4th quarter worth $202,000. Charles Schwab Investment Management Inc. raised its position in Diageo by 11.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 37,718 shares of the company’s stock worth $4,795,000 after purchasing an additional 3,964 shares during the last quarter. King Luther Capital Management Corp bought a new position in Diageo during the 4th quarter worth $206,000. Wealthfront Advisers LLC bought a new position in Diageo during the 4th quarter worth $276,000. Finally, Sequoia Financial Advisors LLC raised its position in Diageo by 2.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,735 shares of the company’s stock worth $475,000 after purchasing an additional 103 shares during the last quarter. 8.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DEO has been the subject of several analyst reports. Berenberg Bank initiated coverage on Diageo in a research report on Wednesday, April 2nd. They set a “buy” rating for the company. Morgan Stanley reissued an “underweight” rating on shares of Diageo in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $129.00.

Diageo Stock Performance

DEO stock opened at $103.51 on Friday. The stock has a 50-day moving average price of $107.52 and a 200-day moving average price of $110.96. Diageo plc has a 1-year low of $99.26 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. The firm has a market cap of $57.58 billion, a PE ratio of 15.11 and a beta of 0.56.

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.