Cobblestone Capital Advisors LLC NY Cuts Stock Position in Diageo plc $DEO

Cobblestone Capital Advisors LLC NY lessened its holdings in Diageo plc (NYSE:DEO) by 5.6% in the third quarter, Holdings Channel reports. The firm owned 120,288 shares of the company’s stock after selling 7,100 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Diageo were worth $11,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Diageo by 72,871.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock worth $158,133,000 after buying an additional 1,566,013 shares during the last quarter. Equity Investment Corp bought a new stake in Diageo in the third quarter worth about $92,970,000. Orbis Allan Gray Ltd boosted its stake in Diageo by 236.6% in the second quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock valued at $116,772,000 after acquiring an additional 813,973 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Diageo by 353.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 717,740 shares of the company’s stock valued at $72,377,000 after acquiring an additional 559,547 shares during the period. Finally, Cullen Capital Management LLC grew its position in shares of Diageo by 67.5% during the 3rd quarter. Cullen Capital Management LLC now owns 1,309,258 shares of the company’s stock valued at $124,943,000 after acquiring an additional 527,814 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DEO has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a report on Wednesday, January 21st. UBS Group restated a “neutral” rating on shares of Diageo in a research note on Wednesday, December 3rd. Barclays reaffirmed an “overweight” rating on shares of Diageo in a research report on Thursday, December 11th. Sanford C. Bernstein set a $124.00 price objective on Diageo and gave the stock an “outperform” rating in a report on Monday, December 29th. Finally, Royal Bank Of Canada upgraded Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $116.50.

Diageo Price Performance

Shares of NYSE DEO opened at $89.51 on Monday. Diageo plc has a fifty-two week low of $84.52 and a fifty-two week high of $116.69. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 1.53. The stock has a fifty day moving average of $91.51 and a 200-day moving average of $95.39.

Diageo Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.