Levin Capital Strategies L.P. Lowers Position in Diageo plc (NYSE:DEO)

Key Points

• Levin Capital Strategies L.P. has reduced its stake in Diageo plc by 29.9%, selling 25,177 shares in the first quarter, leaving the fund with 58,966 shares worth approximately $6.18 million.
• Diverse institutional investors, including Orion Capital Management and Barrett & Company Inc., have recently made new investments in Diageo, contributing to a total of 8.97% institutional ownership of the stock.
• Analysts have mixed sentiments towards Diageo, with a consensus rating of "Hold" and a target price set at $129.00, despite one analyst issuing a sell rating.

Levin Capital Strategies L.P. lessened its position in shares of Diageo plc (NYSE:DEO - Free Report) by 29.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 58,966 shares of the company's stock after selling 25,177 shares during the quarter. Levin Capital Strategies L.P.'s holdings in Diageo were worth $6,179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in shares of Diageo during the 4th quarter worth approximately $25,000. Perkins Coie Trust Co acquired a new stake in Diageo in the first quarter valued at approximately $27,000. Barrett & Company Inc. bought a new stake in shares of Diageo during the first quarter valued at approximately $27,000. Abound Financial LLC acquired a new position in shares of Diageo during the first quarter worth approximately $27,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Diageo in the 1st quarter worth $30,000. Institutional investors and hedge funds own 8.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on DEO shares. Morgan Stanley reaffirmed an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. The Goldman Sachs Group raised Diageo from a "sell" rating to a "neutral" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Diageo currently has an average rating of "Hold" and an average target price of $129.00.

Diageo Stock Performance

Shares of NYSE DEO traded up $2.02 during midday trading on Thursday, hitting $108.99. The company's stock had a trading volume of 1,792,983 shares, compared to its average volume of 1,572,229. The stock has a fifty day moving average price of $103.90 and a 200 day moving average price of $108.43. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. Diageo plc has a one year low of $96.45 and a one year high of $142.73. The firm has a market capitalization of $60.63 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 3.24 and a beta of 0.53.

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.