Summit Trail Advisors LLC Sells 1,151 Shares of Diageo plc (NYSE:DEO)

Summit Trail Advisors LLC lessened its stake in Diageo plc (NYSE:DEO) by 26.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,173 shares of the company’s stock after selling 1,151 shares during the period. Summit Trail Advisors LLC’s holdings in Diageo were worth $337,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Diageo by 11.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 37,718 shares of the company’s stock valued at $4,795,000 after acquiring an additional 3,964 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Diageo by 16.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company’s stock valued at $14,488,000 after purchasing an additional 19,327 shares during the period. Aviso Financial Inc. raised its stake in shares of Diageo by 3.4% in the fourth quarter. Aviso Financial Inc. now owns 242,637 shares of the company’s stock valued at $30,846,000 after purchasing an additional 7,954 shares in the last quarter. Philip James Wealth Mangement LLC bought a new position in Diageo in the first quarter worth $1,908,000. Finally, Bank of New York Mellon Corp boosted its stake in Diageo by 2.5% during the fourth quarter. Bank of New York Mellon Corp now owns 348,598 shares of the company’s stock worth $44,317,000 after buying an additional 8,656 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Diageo Stock Up 1.0%

Shares of NYSE:DEO opened at $104.91 on Thursday. The company’s fifty day moving average is $108.53 and its 200-day moving average is $112.06. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. Diageo plc has a 52 week low of $99.26 and a 52 week high of $142.73. The company has a market capitalization of $58.36 billion, a PE ratio of 15.32 and a beta of 0.56.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DEO shares. Morgan Stanley reissued an “underweight” rating on shares of Diageo in a report on Monday, May 12th. Berenberg Bank assumed coverage on shares of Diageo in a research note on Wednesday, April 2nd. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $129.00.

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.