Pinnacle Financial Partners Inc Sells 4,849 Shares of Diageo plc (NYSE:DEO)

Pinnacle Financial Partners Inc lessened its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 8.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,725 shares of the company's stock after selling 4,849 shares during the quarter. Pinnacle Financial Partners Inc's holdings in Diageo were worth $7,399,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Sei Investments Co. lifted its holdings in Diageo by 2.0% in the first quarter. Sei Investments Co. now owns 131,111 shares of the company's stock worth $19,499,000 after acquiring an additional 2,612 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Diageo by 16.4% during the 1st quarter. QRG Capital Management Inc. now owns 7,185 shares of the company's stock valued at $1,069,000 after buying an additional 1,011 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Diageo by 42.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,136 shares of the company's stock valued at $169,000 after buying an additional 340 shares during the period. Avantax Advisory Services Inc. boosted its stake in shares of Diageo by 4.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,994 shares of the company's stock valued at $1,189,000 after buying an additional 355 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of Diageo in the 1st quarter valued at $208,000. Hedge funds and other institutional investors own 8.97% of the company's stock.

Diageo Stock Performance

Shares of DEO traded up $0.70 during trading hours on Thursday, hitting $119.85. The company had a trading volume of 929,159 shares, compared to its average volume of 757,626. The firm has a market cap of $66.67 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 3.41 and a beta of 0.71. The business has a fifty day moving average of $131.91 and a 200-day moving average of $132.03. Diageo plc has a 12 month low of $117.84 and a 12 month high of $154.71. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Bank of America upgraded shares of Diageo from a "neutral" rating to a "buy" rating in a report on Thursday, September 12th. Royal Bank of Canada upgraded shares of Diageo from an "underperform" rating to a "sector perform" rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Diageo currently has a consensus rating of "Hold".

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.