Diageo plc (NYSE:DEO) Holdings Cut by Procyon Advisors LLC

Procyon Advisors LLC lowered its holdings in Diageo plc (NYSE:DEO - Free Report) by 19.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,124 shares of the company's stock after selling 3,592 shares during the quarter. Procyon Advisors LLC's holdings in Diageo were worth $1,923,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Global Retirement Partners LLC boosted its holdings in Diageo by 1.1% in the 3rd quarter. Global Retirement Partners LLC now owns 8,146 shares of the company's stock worth $1,143,000 after acquiring an additional 85 shares during the period. Diversified Trust Co lifted its position in shares of Diageo by 5.6% during the fourth quarter. Diversified Trust Co now owns 1,855 shares of the company's stock worth $236,000 after purchasing an additional 98 shares in the last quarter. Malaga Cove Capital LLC boosted its stake in shares of Diageo by 3.4% in the third quarter. Malaga Cove Capital LLC now owns 3,001 shares of the company's stock valued at $421,000 after purchasing an additional 100 shares during the period. Profund Advisors LLC grew its holdings in Diageo by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 3,891 shares of the company's stock valued at $491,000 after purchasing an additional 113 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its stake in Diageo by 4.7% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 2,542 shares of the company's stock worth $357,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds own 8.97% of the company's stock.

Analyst Ratings Changes

DEO has been the subject of several recent analyst reports. UBS Group upgraded Diageo from a "sell" rating to a "buy" rating in a research note on Wednesday, December 11th. TD Cowen raised their price objective on Diageo from $124.00 to $129.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group raised Diageo from a "hold" rating to a "buy" rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Diageo presently has an average rating of "Hold" and an average target price of $129.00.

Diageo Price Performance

Diageo stock traded up $1.38 during midday trading on Friday, hitting $118.75. The stock had a trading volume of 895,609 shares, compared to its average volume of 966,345. The business has a fifty day moving average price of $122.58 and a 200 day moving average price of $127.88. Diageo plc has a 12 month low of $113.99 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.

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.