Diageo plc (NYSE:DEO) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its position in Diageo plc (NYSE:DEO - Free Report) by 39.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,743 shares of the company's stock after selling 18,064 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Diageo were worth $2,907,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Diageo by 10.9% during the fourth quarter. FMR LLC now owns 5,813,938 shares of the company's stock valued at $739,126,000 after buying an additional 571,873 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in Diageo by 234.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company's stock valued at $330,627,000 after acquiring an additional 1,822,994 shares during the period. Royal Bank of Canada raised its stake in Diageo by 0.3% during the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock valued at $195,883,000 after acquiring an additional 3,876 shares in the last quarter. Bank of Montreal Can raised its stake in Diageo by 1,181.5% during the 4th quarter. Bank of Montreal Can now owns 1,406,004 shares of the company's stock valued at $178,745,000 after acquiring an additional 1,296,285 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Diageo by 9.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company's stock worth $155,167,000 after acquiring an additional 103,540 shares during the period. 8.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DEO has been the topic of a number of research analyst reports. Berenberg Bank started coverage on Diageo in a report on Wednesday, April 2nd. They set a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Morgan Stanley restated an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $129.00.

Diageo Stock Down 0.9%

Shares of DEO stock opened at $100.72 on Monday. Diageo plc has a 1 year low of $100.66 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 business's fifty day moving average is $109.86 and its 200-day moving average is $113.26. The stock has a market cap of $56.03 billion, a PE ratio of 14.70 and a beta of 0.58.

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.

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