Diageo plc $DEO Position Lessened by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lowered its stake in shares of Diageo plc (NYSE:DEO) by 75.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,175 shares of the company’s stock after selling 6,638 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Diageo were worth $162,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DEO. Bank of Montreal Can increased its holdings in shares of Diageo by 428.7% during the fourth quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock valued at $187,469,000 after purchasing an additional 1,762,027 shares during the period. Orbis Allan Gray Ltd boosted its holdings in shares of Diageo by 236.6% in the second quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock valued at $116,772,000 after acquiring an additional 813,973 shares in the last quarter. Raymond James Financial Inc. increased its stake in shares of Diageo by 48.5% during the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock valued at $162,410,000 after acquiring an additional 555,509 shares during the period. Brandywine Global Investment Management LLC acquired a new position in shares of Diageo during the fourth quarter valued at approximately $46,763,000. Finally, Morgan Stanley raised its holdings in Diageo by 32.4% during the fourth quarter. Morgan Stanley now owns 1,947,245 shares of the company’s stock worth $167,989,000 after purchasing an additional 476,979 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Trading Up 1.0%

Shares of NYSE:DEO opened at $84.42 on Thursday. The firm has a fifty day moving average of $82.16 and a two-hundred day moving average of $83.92. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. Diageo plc has a 12-month low of $72.45 and a 12-month high of $116.41.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Friday, July 17th. TD Cowen upgraded shares of Diageo from a “hold” rating to a “buy” rating and boosted their target price for the stock from $88.00 to $93.00 in a report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft raised Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. BNP Paribas Exane upgraded Diageo from an “underperform” rating to a “neutral” rating in a research report on Wednesday, March 25th. Finally, Loop Capital set a $99.00 target price on shares of Diageo in a research report on Thursday, June 18th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Diageo currently has a consensus rating of “Hold” and an average target price of $106.25.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.