Pinnacle Financial Partners Inc Sells 46,623 Shares of Diageo plc (NYSE:DEO)

Pinnacle Financial Partners Inc lessened its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 89.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,650 shares of the company's stock after selling 46,623 shares during the quarter. Pinnacle Financial Partners Inc's holdings in Diageo were worth $592,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Diageo by 11.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 37,718 shares of the company's stock valued at $4,795,000 after buying an additional 3,964 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Diageo by 16.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company's stock worth $14,488,000 after acquiring an additional 19,327 shares during the period. Aviso Financial Inc. boosted its holdings in Diageo by 3.4% during the fourth quarter. Aviso Financial Inc. now owns 242,637 shares of the company's stock valued at $30,846,000 after purchasing an additional 7,954 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new stake in Diageo in the 1st quarter valued at $1,908,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Diageo by 2.5% in the 4th quarter. Bank of New York Mellon Corp now owns 348,598 shares of the company's stock valued at $44,317,000 after purchasing an additional 8,656 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on DEO. Berenberg Bank initiated coverage on Diageo in a report on Wednesday, April 2nd. They issued a "buy" rating on the stock. Morgan Stanley reiterated an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Diageo has an average rating of "Hold" and an average price target of $129.00.

Diageo Trading Down 0.5%

Shares of NYSE DEO traded down $0.51 during midday trading on Friday, reaching $104.48. 599,589 shares of the stock were exchanged, compared to its average volume of 968,629. 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 $58.12 billion, a price-to-earnings ratio of 15.25 and a beta of 0.56. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The business has a 50-day simple moving average of $108.39 and a two-hundred day simple moving average of $111.88.

Diageo Company 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.