Franklin Resources Inc. Sells 20,768 Shares of Diageo plc $DEO

Franklin Resources Inc. decreased its stake in Diageo plc (NYSE:DEO) by 22.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,179 shares of the company’s stock after selling 20,768 shares during the period. Franklin Resources Inc.’s holdings in Diageo were worth $7,077,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Savant Capital LLC bought a new stake in Diageo during the 2nd quarter valued at $310,000. Philip James Wealth Mangement LLC grew its position in shares of Diageo by 81.8% in the second quarter. Philip James Wealth Mangement LLC now owns 33,107 shares of the company’s stock valued at $3,338,000 after purchasing an additional 14,895 shares in the last quarter. Martin Capital Partners LLC raised its stake in shares of Diageo by 225.8% during the 2nd quarter. Martin Capital Partners LLC now owns 32,525 shares of the company’s stock valued at $3,280,000 after purchasing an additional 22,542 shares during the period. Cobblestone Capital Advisors LLC NY lifted its holdings in Diageo by 5.1% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 127,388 shares of the company’s stock worth $12,846,000 after purchasing an additional 6,145 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in Diageo during the 2nd quarter worth about $107,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on DEO shares. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Diageo in a research note on Friday. Zacks Research lowered shares of Diageo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. The Goldman Sachs Group upgraded Diageo from a “sell” rating to a “neutral” rating in a research report on Thursday, August 7th. Finally, Bank of America dropped their price target on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $119.00.

Diageo Stock Up 1.1%

DEO stock opened at $91.60 on Monday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64. Diageo plc has a one year low of $86.57 and a one year high of $132.34. The company’s 50 day moving average price is $94.24 and its two-hundred day moving average price is $102.12.

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.