Diageo plc (NYSE:DEO) Stock Position Lowered by Fayez Sarofim & Co

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

A number of other hedge funds have also recently added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC raised its holdings in shares of Diageo by 234.4% during 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 buying an additional 1,822,994 shares during the period. Northern Trust Corp raised its holdings in shares of Diageo by 39.9% during the 4th quarter. Northern Trust Corp now owns 649,769 shares of the company's stock valued at $82,605,000 after buying an additional 185,282 shares during the period. Crestwood Advisors Group LLC purchased a new stake in shares of Diageo during the 1st quarter valued at about $16,944,000. GAMMA Investing LLC raised its holdings in shares of Diageo by 4,656.6% during the 1st quarter. GAMMA Investing LLC now owns 154,305 shares of the company's stock valued at $16,170,000 after buying an additional 151,061 shares during the period. Finally, Clark Estates Inc. NY raised its holdings in shares of Diageo by 116.4% during the 1st quarter. Clark Estates Inc. NY now owns 185,000 shares of the company's stock valued at $19,386,000 after buying an additional 99,500 shares during the period. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Performance

DEO stock traded up $1.72 during trading on Monday, reaching $111.19. 833,148 shares of the company's stock were exchanged, compared to its average volume of 1,114,273. Diageo plc has a 1-year low of $96.45 and a 1-year high of $142.73. 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's fifty day moving average price is $103.91 and its 200-day moving average price is $108.22. The firm has a market cap of $61.86 billion, a PE ratio of 16.23, a P/E/G ratio of 3.31 and a beta of 0.53.

Analyst Upgrades and Downgrades

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