Assetmark Inc. Sells 134,858 Shares of Diageo plc $DEO

Key Points

• Assetmark Inc. cut its Diageo stake by 52.1% in the first quarter, selling 134,858 shares and leaving it with 124,193 shares valued at about $9.25 million.
• Other large institutional investors also adjusted positions in Diageo, with firms like Bank of Montreal Can and Morgan Stanley increasing their holdings; overall, about 8.97% of the stock is owned by institutional investors.
• Wall Street sentiment is mixed but leans neutral: Diageo has a consensus Hold rating and an average price target of $106.25, while the stock recently traded at $84.83.

Assetmark Inc. trimmed its holdings in Diageo plc (NYSE:DEO - Free Report) by 52.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 have also recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of Diageo by 428.7% during the fourth quarter. Bank of Montreal Can now owns 2,173,047 shares of the company's stock valued at $187,469,000 after purchasing an additional 1,762,027 shares in the last quarter. Morgan Stanley boosted its position in Diageo by 32.4% during the 4th quarter. Morgan Stanley now owns 1,947,245 shares of the company's stock valued at $167,989,000 after acquiring an additional 476,979 shares in the last quarter. Orbis Allan Gray Ltd boosted its position in Diageo by 12.4% during the 4th quarter. Orbis Allan Gray Ltd now owns 1,737,346 shares of the company's stock valued at $149,881,000 after acquiring an additional 191,216 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Diageo by 48.5% in the 3rd quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company's stock worth $162,410,000 after purchasing an additional 555,509 shares in the last quarter. Finally, Markel Group Inc. raised its position in Diageo by 0.4% during the fourth quarter. Markel Group Inc. now owns 1,371,708 shares of the company's stock valued at $118,337,000 after acquiring an additional 5,000 shares in the last quarter. 8.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Zacks Research raised shares of Diageo from a "strong sell" rating to a "hold" rating in a research note on Monday, March 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a "hold" rating to a "buy" rating in a research note on Tuesday, March 31st. BNP Paribas Exane raised shares of Diageo from an "underperform" rating to a "neutral" rating in a report on Wednesday, March 25th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Diageo in a report on Friday. Finally, Loop Capital set a $99.00 price objective on shares of Diageo in a research report on Thursday, June 18th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $106.25.

Diageo Stock Up 1.0%

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

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.

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