HM Payson & Co. Sells 4,862 Shares of Diageo plc (NYSE:DEO)

HM Payson & Co. reduced its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,022 shares of the company's stock after selling 4,862 shares during the period. HM Payson & Co.'s holdings in Diageo were worth $5,897,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Clearbridge Investments LLC boosted its position in shares of Diageo by 7.0% during the first quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company's stock worth $349,785,000 after buying an additional 154,497 shares during the period. Markel Group Inc. grew its position in Diageo by 0.5% in the second quarter. Markel Group Inc. now owns 1,366,708 shares of the company's stock worth $172,315,000 after buying an additional 6,300 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Diageo by 7.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company's stock valued at $142,165,000 after buying an additional 74,745 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Diageo by 2.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company's stock valued at $139,504,000 after acquiring an additional 23,435 shares during the last quarter. Finally, Confluence Investment Management LLC raised its position in shares of Diageo by 10.5% during the second quarter. Confluence Investment Management LLC now owns 931,740 shares of the company's stock worth $117,474,000 after purchasing an additional 88,159 shares during the period. Institutional investors own 8.97% of the company's stock.

Analysts Set New Price Targets

DEO has been the subject of several research analyst reports. Bank of America raised Diageo from a "neutral" rating to a "buy" rating in a research note on Thursday, September 12th. Royal Bank of Canada raised shares of Diageo from an "underperform" rating to a "sector perform" rating in a research report on Monday, August 12th. The Goldman Sachs Group downgraded shares of Diageo from a "neutral" rating to a "sell" rating in a research report on Friday, July 12th. Finally, Citigroup raised shares of Diageo from a "neutral" rating to a "buy" rating in a research note on Wednesday, July 3rd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Diageo presently has an average rating of "Hold".

Diageo Stock Performance

Diageo stock traded down $3.59 during trading hours on Thursday, reaching $124.16. 588,822 shares of the company were exchanged, compared to its average volume of 754,186. Diageo plc has a 12 month low of $119.48 and a 12 month high of $161.64. The stock has a 50-day moving average of $134.06 and a 200 day moving average of $133.28. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. The firm has a market cap of $69.07 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 3.84 and a beta of 0.69.

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.