Diageo plc $DEO Shares Sold by ABC Arbitrage SA

ABC Arbitrage SA trimmed its position in Diageo plc (NYSE:DEO) by 9.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 506,836 shares of the company’s stock after selling 53,547 shares during the period. Diageo makes up approximately 5.0% of ABC Arbitrage SA’s portfolio, making the stock its 2nd largest holding. ABC Arbitrage SA’s holdings in Diageo were worth $37,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Spire Wealth Management raised its position in Diageo by 123.6% during the 4th quarter. Spire Wealth Management now owns 322 shares of the company’s stock worth $28,000 after buying an additional 178 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Diageo by 8,000.0% in the fourth quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock valued at $29,000 after acquiring an additional 320 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Diageo in the fourth quarter valued at about $30,000. Q Fund Management Hong Kong Ltd acquired a new position in shares of Diageo during the fourth quarter worth about $43,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Diageo during the fourth quarter worth about $49,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DEO has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Loop Capital set a $99.00 target price on Diageo in a research report on Thursday, June 18th. Zacks Research raised Diageo from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Monday, April 20th. Finally, TD Cowen upgraded Diageo from a “hold” rating to a “buy” rating and lifted their price target for the company from $88.00 to $93.00 in a research note on Thursday, June 25th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $106.25.

Diageo Price Performance

Shares of DEO opened at $82.54 on Tuesday. Diageo plc has a twelve month low of $72.45 and a twelve month high of $116.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60. The firm’s 50-day moving average is $81.98 and its two-hundred day moving average is $84.04.

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.