Natixis Advisors LLC Trims Position in Diageo plc (NYSE:DEO)

Key Points

• Natixis Advisors LLC has reduced its stake in Diageo plc by 11.2% in the first quarter, now owning approximately 813,543 shares worth about $85.25 million.
• Several other institutional investors have also adjusted their positions in Diageo, with Clark Estates Inc. NY increasing its stake by 116.4% within the same period.
• Currently, Diageo shares are rated as an "average hold" with a target price of $129.00, according to equity analysts.

Natixis Advisors LLC decreased its position in shares of Diageo plc (NYSE:DEO - Free Report) by 11.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 813,543 shares of the company's stock after selling 102,335 shares during the quarter. Natixis Advisors LLC owned approximately 0.15% of Diageo worth $85,251,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Clark Estates Inc. NY boosted its stake in shares of Diageo by 116.4% in the first quarter. Clark Estates Inc. NY now owns 185,000 shares of the company's stock worth $19,386,000 after acquiring an additional 99,500 shares during the period. Thornburg Investment Management Inc. grew its stake in Diageo by 57.7% during the first quarter. Thornburg Investment Management Inc. now owns 46,379 shares of the company's stock valued at $4,860,000 after acquiring an additional 16,975 shares in the last quarter. XTX Topco Ltd bought a new stake in Diageo in the 1st quarter valued at $426,000. TCTC Holdings LLC lifted its stake in Diageo by 34.0% in the 1st quarter. TCTC Holdings LLC now owns 42,138 shares of the company's stock worth $4,416,000 after purchasing an additional 10,703 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. grew its position in shares of Diageo by 3.2% during the first quarter. Pinnacle West Asset Management Inc. now owns 3,240 shares of the company's stock valued at $340,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company's stock.

Diageo Stock Performance

Shares of NYSE:DEO opened at $102.90 on Thursday. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The firm's 50-day moving average is $104.80 and its 200 day moving average is $109.05. Diageo plc has a 12 month low of $99.26 and a 12 month high of $142.73. The company has a market capitalization of $57.25 billion, a price-to-earnings ratio of 15.02 and a beta of 0.56.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DEO shares. Berenberg Bank started coverage on Diageo in a research note on Wednesday, April 2nd. They set a "buy" rating for the company. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Diageo currently 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.

Want to see what other hedge funds are holding DEO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diageo plc (NYSE:DEO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.