Beacon Financial Group Decreases Stock Holdings in Diageo plc (NYSE:DEO)

Beacon Financial Group lowered its stake in Diageo plc (NYSE:DEO - Free Report) by 65.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,471 shares of the company's stock after selling 4,579 shares during the quarter. Beacon Financial Group's holdings in Diageo were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DEO. FMR LLC boosted its holdings in shares of Diageo by 10.9% during the 4th quarter. FMR LLC now owns 5,813,938 shares of the company's stock valued at $739,126,000 after purchasing an additional 571,873 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Diageo by 234.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company's stock valued at $330,627,000 after buying an additional 1,822,994 shares during the period. Royal Bank of Canada lifted its holdings in Diageo by 0.3% during the fourth quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock worth $195,883,000 after buying an additional 3,876 shares during the period. Bank of Montreal Can grew its stake in Diageo by 1,181.5% in the fourth quarter. Bank of Montreal Can now owns 1,406,004 shares of the company's stock valued at $178,745,000 after purchasing an additional 1,296,285 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Diageo by 9.3% in the 4th 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 last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Performance

Shares of NYSE:DEO traded up $0.33 during trading on Tuesday, hitting $107.60. 591,000 shares of the stock traded hands, compared to its average volume of 949,657. The company has a market cap of $59.86 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 2.39 and a beta of 0.58. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The company has a fifty day moving average price of $110.11 and a two-hundred day moving average price of $114.18. Diageo plc has a 52-week low of $100.72 and a 52-week high of $142.73.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DEO. Morgan Stanley restated an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Berenberg Bank initiated coverage on shares of Diageo in a report on Wednesday, April 2nd. They issued a "buy" rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Diageo presently has an average rating of "Hold" and an average price target of $129.00.

Diageo Company 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.