Bearing Point Capital LLC Decreases Stake in Diageo plc (NYSE:DEO)

Key Points

• Bearing Point Capital LLC significantly reduced its stake in Diageo plc by selling 24,217 shares, lowering its holdings by 85.0% during the first quarter.
• Wealth Enhancement Advisory Services LLC increased its holdings in Diageo by 16.3%, now owning 138,252 shares valued at approximately $14.5 million.
• Diageo shares currently hold a consensus rating of "Hold" from analysts, with an average target price set at $129.00.

Bearing Point Capital LLC cut its position in shares of Diageo plc (NYSE:DEO - Free Report) by 85.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,290 shares of the company's stock after selling 24,217 shares during the quarter. Bearing Point Capital LLC's holdings in Diageo were worth $450,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Orion Capital Management LLC bought a new position in Diageo during the 4th quarter valued at $25,000. BNP Paribas acquired a new stake in Diageo during the fourth quarter worth about $32,000. Measured Risk Portfolios Inc. bought a new position in Diageo during the fourth quarter worth about $32,000. Perkins Coie Trust Co bought a new position in shares of Diageo in the first quarter valued at approximately $27,000. Finally, Barrett & Company Inc. bought a new position in Diageo in the 1st quarter worth approximately $27,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Trading Down 0.7%

NYSE:DEO traded down $0.74 during trading hours on Wednesday, reaching $103.59. The company's stock had a trading volume of 711,434 shares, compared to its average volume of 1,061,883. The firm has a market capitalization of $57.63 billion, a price-to-earnings ratio of 15.12 and a beta of 0.56. Diageo plc has a 1 year low of $99.26 and a 1 year high of $142.73. 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 firm has a 50-day simple moving average of $105.02 and a 200-day simple moving average of $109.09.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Berenberg Bank assumed coverage on shares of Diageo in a research report on Wednesday, April 2nd. They set a "buy" rating on the stock. Morgan Stanley restated an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock 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.