Ethic Inc. Reduces Holdings in Diageo plc (NYSE:DEO)

Ethic Inc. trimmed its position in Diageo plc (NYSE:DEO - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,216 shares of the company's stock after selling 2,726 shares during the period. Ethic Inc.'s holdings in Diageo were worth $3,714,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. CoreFirst Bank & Trust acquired a new stake in Diageo in the fourth quarter valued at approximately $25,000. Eastern Bank boosted its stake in Diageo by 107.8% in the fourth quarter. Eastern Bank now owns 241 shares of the company's stock valued at $31,000 after acquiring an additional 125 shares in the last quarter. BNP Paribas acquired a new stake in Diageo in the fourth quarter valued at approximately $32,000. Kestra Investment Management LLC acquired a new stake in Diageo in the fourth quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Diageo during the fourth quarter worth $47,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Price Performance

Diageo stock traded up $0.61 during midday trading on Wednesday, reaching $112.88. The company had a trading volume of 803,872 shares, compared to its average volume of 936,338. The firm's fifty day simple moving average is $109.05 and its 200-day simple moving average is $115.85. Diageo plc has a 12-month low of $100.72 and a 12-month high of $143.32. The company has a market capitalization of $62.79 billion, a P/E ratio of 16.48, a P/E/G ratio of 2.39 and a beta of 0.60. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley reiterated an "underweight" rating on shares of Diageo in a research note on Monday. Berenberg Bank began coverage on shares of Diageo in a research report on Wednesday, April 2nd. They set a "buy" rating for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Diageo currently has a consensus rating of "Hold" and an average price target of $129.00.

Diageo 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.