Fayez Sarofim & Co Sells 155,549 Shares of Diageo plc (NYSE:DEO)

Key Points

• Fayez Sarofim & Co has reduced its holdings in Diageo plc by 21.7% during the first quarter, owning 559,831 shares worth approximately $58.7 million as per its recent SEC filing.
• Multiple hedge funds have adjusted their stakes in Diageo, with an 8.97% ownership by institutional investors currently noted.
• Analyst ratings for Diageo vary, with Morgan Stanley maintaining an "underweight" rating, while the stock has a consensus rating of "Hold" and an average target price of $129.00.

Fayez Sarofim & Co reduced its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 559,831 shares of the company's stock after selling 155,549 shares during the quarter. Fayez Sarofim & Co owned 0.10% of Diageo worth $58,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DEO. Brighton Jones LLC bought a new stake in shares of Diageo during the 4th quarter worth $202,000. Grantham Mayo Van Otterloo & Co. LLC raised its position in Diageo by 23.6% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 5,650 shares of the company's stock valued at $718,000 after purchasing an additional 1,079 shares during the last quarter. Russell Investments Group Ltd. raised its position in Diageo by 50.1% in the fourth quarter. Russell Investments Group Ltd. now owns 3,042 shares of the company's stock valued at $387,000 after purchasing an additional 1,016 shares during the last quarter. Invesco Ltd. raised its position in Diageo by 12.2% in the fourth quarter. Invesco Ltd. now owns 202,582 shares of the company's stock valued at $25,754,000 after purchasing an additional 22,049 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in Diageo by 2.8% in the fourth quarter. Advisory Services Network LLC now owns 14,761 shares of the company's stock valued at $1,876,000 after purchasing an additional 408 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Performance

Shares of DEO traded up $0.39 during mid-day trading on Friday, hitting $109.39. The stock had a trading volume of 1,049,914 shares, compared to its average volume of 1,617,762. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. Diageo plc has a 52 week low of $96.45 and a 52 week high of $142.73. The firm has a market cap of $60.86 billion, a P/E ratio of 15.97, a PEG ratio of 3.31 and a beta of 0.53. The business has a fifty day moving average price of $103.91 and a 200-day moving average price of $108.29.

Wall Street Analyst Weigh In

Several research firms have commented on DEO. The Goldman Sachs Group upgraded Diageo from a "sell" rating to a "neutral" rating in a research report on Thursday. Morgan Stanley reiterated an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.