Kornitzer Capital Management Inc. KS Trims Stock Holdings in Diageo plc (NYSE:DEO)

Kornitzer Capital Management Inc. KS reduced its position in Diageo plc (NYSE:DEO - Free Report) by 76.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 20,645 shares of the company's stock after selling 66,217 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Diageo were worth $2,163,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. CoreFirst Bank & Trust purchased a new stake in Diageo in the 4th quarter valued at $25,000. Orion Capital Management LLC acquired a new position in Diageo in the 4th quarter valued at about $25,000. Perkins Coie Trust Co purchased a new stake in Diageo during the 1st quarter valued at approximately $27,000. Barrett & Company Inc. acquired a new stake in Diageo during the 1st quarter worth approximately $27,000. Finally, Abound Financial LLC purchased a new position in Diageo in the 1st quarter valued at $27,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DEO. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a report on Monday, May 12th. Berenberg Bank initiated coverage on shares of Diageo in a research note on Wednesday, April 2nd. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Diageo has an average rating of "Hold" and a consensus price target of $129.00.

Diageo Stock Down 0.1%

Diageo stock traded down $0.13 during midday trading on Thursday, hitting $103.05. 2,623,336 shares of the company were exchanged, compared to its average volume of 1,052,799. 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 fifty-two week low of $99.26 and a fifty-two week high of $142.73. The company's fifty day moving average price is $106.78 and its 200-day moving average price is $110.45. The company has a market cap of $57.33 billion, a PE ratio of 15.04 and a beta of 0.56.

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.