US Bancorp DE Cuts Position in Diageo plc (NYSE:DEO)

US Bancorp DE trimmed its position in shares of Diageo plc (NYSE:DEO - Free Report) by 40.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,159 shares of the company's stock after selling 37,875 shares during the period. US Bancorp DE's holdings in Diageo were worth $5,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of DEO. Orion Capital Management LLC bought a new stake in Diageo in the fourth quarter worth $25,000. Perkins Coie Trust Co bought a new stake in shares of Diageo in the 1st quarter worth about $27,000. Barrett & Company Inc. purchased a new stake in shares of Diageo during the 1st quarter valued at about $27,000. Abound Financial LLC bought a new position in shares of Diageo in the 1st quarter valued at about $27,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Diageo in the 1st quarter valued at about $30,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Trading Up 1.1%

DEO stock opened at $98.55 on Tuesday. Diageo plc has a twelve month low of $96.45 and a twelve month high of $142.73. The stock has a market capitalization of $54.83 billion, a price-to-earnings ratio of 14.39 and a beta of 0.53. 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 firm's fifty day simple moving average is $104.09 and its two-hundred day simple moving average is $108.55.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley restated an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. One equities 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 company's stock. According to data from MarketBeat.com, Diageo has a consensus rating of "Hold" and an average price target 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.

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