Kornitzer Capital Management Inc. KS reduced its stake in Diageo plc (NYSE:DEO) by 1.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 89,725 shares of the company’s stock after selling 905 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Diageo were worth $14,672,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. TRUE Private Wealth Advisors purchased a new stake in shares of Diageo during the 2nd quarter valued at $29,000. Meridian Wealth Management LLC bought a new position in shares of Diageo during the 2nd quarter worth $33,000. Squar Milner Financial Services LLC grew its stake in shares of Diageo by 169.9% during the 3rd quarter. Squar Milner Financial Services LLC now owns 197 shares of the company’s stock worth $32,000 after acquiring an additional 124 shares during the period. Manchester Financial Inc. bought a new position in shares of Diageo during the 2nd quarter worth $45,000. Finally, Norway Savings Bank grew its stake in shares of Diageo by 36.5% during the 3rd quarter. Norway Savings Bank now owns 273 shares of the company’s stock worth $45,000 after acquiring an additional 73 shares during the period. 9.48% of the stock is owned by institutional investors and hedge funds.
Shares of DEO stock traded down $1.07 on Friday, hitting $159.00. 355,121 shares of the stock were exchanged, compared to its average volume of 356,675. The company has a current ratio of 1.34, a quick ratio of 0.56 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $102.94 billion, a PE ratio of 23.56, a P/E/G ratio of 2.79 and a beta of 0.45. Diageo plc has a one year low of $137.24 and a one year high of $176.22. The firm’s 50 day moving average is $162.08 and its two-hundred day moving average is $167.17.
Several research analysts have recently weighed in on DEO shares. Morgan Stanley reiterated an “overweight” rating on shares of Diageo in a research note on Thursday, October 24th. Sanford C. Bernstein upgraded Diageo from an “underperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Zacks Investment Research upgraded Diageo from a “sell” rating to a “hold” rating and set a $171.00 price target for the company in a research note on Monday. Societe Generale downgraded Diageo from a “buy” rating to a “sell” rating in a research note on Thursday, September 5th. They noted that the move was a valuation call. Finally, ValuEngine downgraded Diageo from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Diageo presently has an average rating of “Hold” and an average price target of $171.00.
Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.
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