Hamel Associates Inc. Reduces Stock Holdings in Diageo plc $DEO

Key Points

• Hamel Associates Inc. cut its Diageo stake by 70.5% in the first quarter, selling 15,275 shares and leaving it with 6,405 shares valued at about $477,000.
• Other institutional investors were active in Diageo, with several firms significantly increasing their holdings; overall, about 8.97% of the stock is owned by hedge funds and other institutions.
• Analysts currently have a mixed but cautious view of Diageo: the stock has a Hold consensus rating and an average price target of $106.25, while shares recently opened at $83.98.

Hamel Associates Inc. reduced its position in shares of Diageo plc (NYSE:DEO - Free Report) by 70.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,405 shares of the company's stock after selling 15,275 shares during the period. Hamel Associates Inc.'s holdings in Diageo were worth $477,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DEO. Bank of Montreal Can grew its stake in shares of Diageo by 428.7% in the 4th quarter. Bank of Montreal Can now owns 2,173,047 shares of the company's stock valued at $187,469,000 after buying an additional 1,762,027 shares during the period. Orbis Allan Gray Ltd raised its position in shares of Diageo by 236.6% during the 2nd quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company's stock valued at $116,772,000 after buying an additional 813,973 shares during the period. Raymond James Financial Inc. raised its position in shares of Diageo by 48.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company's stock valued at $162,410,000 after buying an additional 555,509 shares during the period. Brandywine Global Investment Management LLC acquired a new position in Diageo in the fourth quarter valued at approximately $46,763,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Diageo by 53.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company's stock valued at $102,124,000 after acquiring an additional 477,999 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Price Performance

NYSE DEO opened at $83.98 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. The stock has a 50-day moving average of $81.98 and a two-hundred day moving average of $83.96. Diageo plc has a 1-year low of $72.45 and a 1-year high of $116.41.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Zacks Research upgraded Diageo from a "strong sell" rating to a "hold" rating in a research report on Monday, March 23rd. Weiss Ratings restated a "sell (d)" rating on shares of Diageo in a research report on Friday. Deutsche Bank Aktiengesellschaft raised Diageo from a "hold" rating to a "buy" rating in a research note on Tuesday, March 31st. BNP Paribas Exane upgraded Diageo from an "underperform" rating to a "neutral" rating in a report on Wednesday, March 25th. Finally, Loop Capital set a $99.00 price objective on Diageo in a research report on Thursday, June 18th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $106.25.

Diageo Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange NYSE: DEO and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo's core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.

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