Diageo plc $DEO Shares Sold by Transmarket Holdings LP

Key Points

• Transmarket Holdings LP cut its Diageo stake by 64.8% in the first quarter, selling 79,134 shares and leaving it with 43,057 shares worth about $3.2 million.
• Several other institutional investors also adjusted their positions, while overall institutional ownership stands at 8.97% of Diageo’s stock.
• Diageo shares recently traded at $83.60, with analysts currently split but leaning neutral: the stock has a Hold consensus and an average target price of $106.25.

Transmarket Holdings LP trimmed its position in Diageo plc (NYSE:DEO - Free Report) by 64.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,057 shares of the company's stock after selling 79,134 shares during the period. Diageo makes up about 1.7% of Transmarket Holdings LP's portfolio, making the stock its 13th largest holding. Transmarket Holdings LP's holdings in Diageo were worth $3,206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Spire Wealth Management raised its position in Diageo by 123.6% in the fourth quarter. Spire Wealth Management now owns 322 shares of the company's stock worth $28,000 after acquiring an additional 178 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Diageo by 8,000.0% during the 4th quarter. Sound Income Strategies LLC now owns 324 shares of the company's stock valued at $29,000 after purchasing an additional 320 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Diageo during the 4th quarter valued at about $30,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Diageo in the 1st quarter worth approximately $34,000. Finally, Q Fund Management Hong Kong Ltd acquired a new position in shares of Diageo in the 4th quarter worth approximately $43,000. Institutional investors own 8.97% of the company's stock.

Diageo Stock Performance

NYSE:DEO opened at $83.60 on Wednesday. The firm's 50-day moving average is $82.09 and its 200-day moving average is $83.93. Diageo plc has a 52-week low of $72.45 and a 52-week high of $116.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60.

Analyst Upgrades and Downgrades

DEO has been the subject of a number of research reports. BNP Paribas Exane upgraded shares of Diageo from an "underperform" rating to a "neutral" rating in a report on Wednesday, March 25th. Loop Capital set a $99.00 target price on Diageo in a report on Thursday, June 18th. TD Cowen upgraded Diageo from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $88.00 to $93.00 in a report on Thursday, June 25th. Weiss Ratings reissued a "sell (d)" rating on shares of Diageo in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded Diageo from a "hold" rating to a "buy" rating in a research report on Tuesday, March 31st. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $106.25.

About Diageo

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.

Want to see what other hedge funds are holding DEO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diageo plc (NYSE:DEO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.