Scotia Capital Inc. Sells 39,886 Shares of Diageo plc (NYSE:DEO)

Key Points

• Scotia Capital Inc. reduced its stake in Diageo plc by 13.3%, selling 39,886 shares, and now holds a total of 260,736 shares worth approximately $27.3 million.
• Other large investors, including Wealth Enhancement Advisory Services LLC and Carnegie Investment Counsel, have increased their holdings in Diageo by significant margins during the same period.
• Diageo currently has an average analyst rating of "Hold" with a target price of $129.00, as noted in recent evaluations by various financial analysts.

Scotia Capital Inc. lowered its holdings in Diageo plc (NYSE:DEO - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 260,736 shares of the company's stock after selling 39,886 shares during the period. Scotia Capital Inc.'s holdings in Diageo were worth $27,323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC boosted its position in Diageo by 10.9% in the fourth quarter. FMR LLC now owns 5,813,938 shares of the company's stock worth $739,126,000 after purchasing an additional 571,873 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Diageo by 234.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company's stock valued at $330,627,000 after buying an additional 1,822,994 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Diageo by 0.3% during the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock valued at $195,883,000 after buying an additional 3,876 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Diageo by 3.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,441,300 shares of the company's stock worth $151,034,000 after purchasing an additional 42,740 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Diageo by 1,181.5% during the 4th quarter. Bank of Montreal Can now owns 1,406,004 shares of the company's stock worth $178,745,000 after purchasing an additional 1,296,285 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company's stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley reissued an "underweight" rating on shares of Diageo in a report on Monday, May 12th. One research 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.com, the company presently has a consensus rating of "Hold" and a consensus price target of $129.00.

Diageo Price Performance

Shares of Diageo stock traded up $3.18 during trading on Tuesday, hitting $101.35. 682,841 shares of the stock traded hands, compared to its average volume of 1,089,803. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The stock has a market cap of $56.38 billion, a price-to-earnings ratio of 14.79 and a beta of 0.53. The firm's fifty day moving average is $104.09 and its 200-day moving average is $108.55. Diageo plc has a 52 week low of $96.45 and a 52 week high of $142.73.

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.