First Manhattan CO. LLC. Sells 35,618 Shares of Diageo plc (NYSE:DEO)

First Manhattan CO. LLC. trimmed its position in shares of Diageo plc (NYSE:DEO - Free Report) by 12.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,167 shares of the company's stock after selling 35,618 shares during the period. First Manhattan CO. LLC.'s holdings in Diageo were worth $32,277,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Canoe Financial LP boosted its stake in shares of Diageo by 88,407.3% in the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company's stock valued at $1,031,465,000 after purchasing an additional 8,104,301 shares in the last quarter. FMR LLC boosted its stake in shares of Diageo by 10.9% in the 4th quarter. FMR LLC now owns 5,813,938 shares of the company's stock valued at $739,126,000 after purchasing an additional 571,873 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Diageo by 234.4% in 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 purchasing an additional 1,822,994 shares in the last quarter. Bank of Montreal Can raised its holdings in Diageo by 1,181.5% in the 4th quarter. Bank of Montreal Can now owns 1,406,004 shares of the company's stock valued at $178,745,000 after buying an additional 1,296,285 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Diageo by 9.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company's stock valued at $155,167,000 after buying an additional 103,540 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Stock Up 0.4%

DEO traded up $0.47 during mid-day trading on Wednesday, reaching $112.74. 614,401 shares of the stock were exchanged, compared to its average volume of 1,111,099. 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 capitalization of $62.72 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 2.39 and a beta of 0.60. The company has a 50 day moving average price of $109.05 and a two-hundred day moving average price of $115.85. Diageo plc has a 1 year low of $100.72 and a 1 year high of $143.32.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DEO shares. Berenberg Bank started coverage on shares of Diageo in a report on Wednesday, April 2nd. They issued a "buy" rating for the company. Morgan Stanley restated an "underweight" rating on shares of Diageo in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average 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.