Fifth Third Bancorp Lowers Stock Position in Diageo plc (NYSE:DEO)

Fifth Third Bancorp cut its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 34.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,374 shares of the company's stock after selling 3,404 shares during the period. Fifth Third Bancorp's holdings in Diageo were worth $668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DEO. Brighton Jones LLC purchased a new stake in shares of Diageo during the fourth quarter worth approximately $202,000. Savant Capital LLC increased its stake in shares of Diageo by 5.0% during the fourth quarter. Savant Capital LLC now owns 1,864 shares of the company's stock worth $237,000 after buying an additional 88 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Diageo by 23.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,862 shares of the company's stock worth $361,000 after buying an additional 539 shares during the period. Principal Securities Inc. increased its stake in shares of Diageo by 0.9% during the fourth quarter. Principal Securities Inc. now owns 40,586 shares of the company's stock worth $5,160,000 after buying an additional 364 shares during the period. Finally, Sierra Ocean LLC purchased a new stake in shares of Diageo during the fourth quarter worth approximately $113,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Down 0.6%

DEO traded down $0.66 on Wednesday, reaching $101.62. The company's stock had a trading volume of 748,082 shares, compared to its average volume of 959,339. The stock has a 50 day moving average of $110.26 and a two-hundred day moving average of $113.69. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. Diageo plc has a fifty-two week low of $100.72 and a fifty-two week high of $142.73.

Analyst Ratings Changes

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

About Diageo

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.