First Trust Advisors LP Reduces Position in Diageo plc $DEO

First Trust Advisors LP lowered its holdings in Diageo plc (NYSE:DEO) by 2.0% in the second quarter, HoldingsChannel reports. The firm owned 381,625 shares of the company’s stock after selling 7,806 shares during the period. First Trust Advisors LP’s holdings in Diageo were worth $38,483,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of DEO. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Diageo during the 2nd quarter valued at approximately $26,000. Bell Investment Advisors Inc raised its holdings in Diageo by 94.7% in the second quarter. Bell Investment Advisors Inc now owns 292 shares of the company’s stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. Truvestments Capital LLC bought a new position in Diageo during the 1st quarter valued at $30,000. HHM Wealth Advisors LLC boosted its stake in Diageo by 76.5% during the 2nd quarter. HHM Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $33,000 after acquiring an additional 143 shares during the last quarter. Finally, Whipplewood Advisors LLC grew its holdings in Diageo by 84.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 357 shares of the company’s stock worth $36,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DEO shares. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Zacks Research lowered Diageo from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Bank of America cut their price objective on Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a research note on Friday, September 26th. UBS Group reiterated a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Diageo in a report on Friday, November 28th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $119.00.

Diageo Stock Performance

NYSE:DEO opened at $85.43 on Wednesday. The business has a 50 day simple moving average of $93.47 and a 200 day simple moving average of $100.96. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. Diageo plc has a 12-month low of $85.35 and a 12-month high of $132.34.

About Diageo

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.