PNC Financial Services Group Inc. Decreases Stock Holdings in Diageo plc (NYSE:DEO)

PNC Financial Services Group Inc. trimmed its position in Diageo plc (NYSE:DEO - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,807 shares of the company's stock after selling 3,230 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Diageo were worth $7,525,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kovitz Investment Group Partners LLC grew its position in Diageo by 234.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company's stock worth $330,627,000 after purchasing an additional 1,822,994 shares during the period. Royal Bank of Canada boosted its position in Diageo by 0.3% in the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock worth $195,883,000 after purchasing an additional 3,876 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Diageo by 3.1% during the first quarter. Envestnet Asset Management Inc. now owns 1,441,300 shares of the company's stock valued at $151,034,000 after buying an additional 42,740 shares during the period. Confluence Investment Management LLC increased its stake in shares of Diageo by 0.7% in the 1st quarter. Confluence Investment Management LLC now owns 1,184,987 shares of the company's stock valued at $124,175,000 after purchasing an additional 8,521 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Diageo by 39.9% during the 4th quarter. Northern Trust Corp now owns 649,769 shares of the company's stock worth $82,605,000 after buying an additional 185,282 shares during the period. Institutional investors and hedge funds own 8.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Morgan Stanley reaffirmed an "underweight" rating on shares of Diageo in a report on Monday, May 12th. The Goldman Sachs Group upgraded shares of Diageo from a "sell" rating to a "neutral" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $129.00.

Diageo Price Performance

NYSE DEO traded up $0.39 during mid-day trading on Friday, hitting $109.39. The stock had a trading volume of 1,049,914 shares, compared to its average volume of 1,116,594. The firm's 50 day moving average is $103.90 and its 200 day moving average is $108.43. 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 stock has a market capitalization of $60.86 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 3.24 and a beta of 0.53. Diageo plc has a twelve month low of $96.45 and a twelve month high of $142.73.

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.