Diageo plc (NYSE:DEO) Shares Sold by Principal Street Partners LLC

Principal Street Partners LLC trimmed its stake in Diageo plc (NYSE:DEO - Free Report) by 50.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,394 shares of the company's stock after selling 2,450 shares during the period. Principal Street Partners LLC's holdings in Diageo were worth $304,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. CoreFirst Bank & Trust acquired a new position in shares of Diageo during the fourth quarter worth $25,000. BNP Paribas purchased a new position in Diageo during the 4th quarter worth $32,000. Measured Risk Portfolios Inc. acquired a new position in Diageo during the 4th quarter valued at about $32,000. Kestra Investment Management LLC purchased a new stake in Diageo in the fourth quarter valued at about $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in Diageo in the fourth quarter valued at about $47,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Performance

NYSE DEO traded down $1.70 during trading hours on Monday, reaching $109.16. The stock had a trading volume of 885,563 shares, compared to its average volume of 947,095. Diageo plc has a 52-week low of $100.72 and a 52-week high of $142.73. The stock has a fifty day moving average of $109.62 and a 200 day moving average of $115.09. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. The stock has a market cap of $60.73 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 2.39 and a beta of 0.60.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DEO shares. Berenberg Bank initiated coverage on shares of Diageo in a report on Wednesday, April 2nd. They set a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of Diageo in a report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $129.00.

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.