Assetmark Inc. Lowers Holdings in Diageo plc $DEO

Assetmark Inc. decreased its holdings in shares of Diageo plc (NYSE:DEO) by 52.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 124,193 shares of the company’s stock after selling 134,858 shares during the quarter. Assetmark Inc.’s holdings in Diageo were worth $9,246,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management boosted its holdings in Diageo by 123.6% in the fourth quarter. Spire Wealth Management now owns 322 shares of the company’s stock valued at $28,000 after purchasing an additional 178 shares during the period. Sound Income Strategies LLC lifted its stake in Diageo by 8,000.0% in the fourth quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock worth $29,000 after acquiring an additional 320 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in Diageo during the 4th quarter worth approximately $30,000. Q Fund Management Hong Kong Ltd acquired a new position in Diageo during the 4th quarter worth approximately $43,000. Finally, Cromwell Holdings LLC purchased a new stake in shares of Diageo in the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DEO. Zacks Research raised Diageo from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. TD Cowen raised shares of Diageo from a “hold” rating to a “buy” rating and increased their target price for the company from $88.00 to $93.00 in a report on Thursday, June 25th. BNP Paribas Exane upgraded shares of Diageo from an “underperform” rating to a “neutral” rating in a research report on Wednesday, March 25th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Diageo presently has an average rating of “Hold” and a consensus target price of $106.25.

Diageo Stock Performance

Diageo stock opened at $84.83 on Tuesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. The stock has a fifty day moving average of $82.04 and a two-hundred day moving average of $83.95. Diageo plc has a fifty-two week low of $72.45 and a fifty-two week high of $116.41.

Diageo Company 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.