Ballentine Partners LLC Has $465,000 Stock Holdings in Diageo plc (NYSE:DEO)

Ballentine Partners LLC cut its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 39.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,442 shares of the company's stock after selling 2,874 shares during the quarter. Ballentine Partners LLC's holdings in Diageo were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in Diageo by 11.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 37,718 shares of the company's stock worth $4,795,000 after buying an additional 3,964 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Diageo by 16.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company's stock worth $14,488,000 after buying an additional 19,327 shares during the period. Philip James Wealth Mangement LLC acquired a new position in Diageo during the first quarter worth approximately $1,908,000. JPMorgan Chase & Co. increased its position in Diageo by 9.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company's stock worth $155,167,000 after buying an additional 103,540 shares during the period. Finally, Miracle Mile Advisors LLC increased its position in Diageo by 30.1% during the first quarter. Miracle Mile Advisors LLC now owns 40,492 shares of the company's stock worth $4,243,000 after buying an additional 9,366 shares during the period. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Price Performance

Shares of DEO stock traded up $0.08 during mid-day trading on Friday, hitting $103.24. 710,122 shares of the stock traded hands, compared to its average volume of 1,051,941. The firm has a market cap of $57.43 billion, a price-to-earnings ratio of 15.07 and a beta of 0.56. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. The company's 50-day simple moving average is $106.53 and its 200-day simple moving average is $110.29. Diageo plc has a twelve month low of $99.26 and a twelve month high of $142.73.

Analyst Ratings Changes

DEO has been the topic of a number of analyst reports. Morgan Stanley restated an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. Berenberg Bank initiated coverage on Diageo in a research note on Wednesday, April 2nd. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Diageo currently has a consensus rating of "Hold" and an average price target of $129.00.

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.