Sequoia Financial Advisors LLC Reduces Stock Holdings in Diageo plc (NYSE:DEO)

Sequoia Financial Advisors LLC lowered its position in Diageo plc (NYSE:DEO) by 35.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,393 shares of the company’s stock after selling 1,342 shares during the period. Sequoia Financial Advisors LLC’s holdings in Diageo were worth $251,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. GeoWealth Management LLC increased its position in shares of Diageo by 1.3% in the fourth quarter. GeoWealth Management LLC now owns 6,944 shares of the company’s stock valued at $883,000 after buying an additional 92 shares in the last quarter. Aptus Capital Advisors LLC increased its position in shares of Diageo by 5.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,867 shares of the company’s stock valued at $237,000 after buying an additional 95 shares in the last quarter. Grove Bank & Trust boosted its stake in shares of Diageo by 1.3% during the first quarter. Grove Bank & Trust now owns 7,560 shares of the company’s stock valued at $792,000 after acquiring an additional 98 shares during the last quarter. Malaga Cove Capital LLC boosted its stake in shares of Diageo by 3.3% during the fourth quarter. Malaga Cove Capital LLC now owns 3,101 shares of the company’s stock valued at $394,000 after acquiring an additional 100 shares during the last quarter. Finally, Absher Wealth Management LLC boosted its stake in shares of Diageo by 2.0% during the first quarter. Absher Wealth Management LLC now owns 5,986 shares of the company’s stock valued at $627,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Down 0.5%

DEO opened at $104.48 on Friday. The business’s fifty day simple moving average is $108.27 and its 200 day simple moving average is $111.71. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. Diageo plc has a 52 week low of $99.26 and a 52 week high of $142.73. The firm has a market cap of $58.12 billion, a P/E ratio of 15.25 and a beta of 0.56.

Analysts Set New Price Targets

DEO has been the topic of a number of analyst reports. Berenberg Bank initiated coverage on Diageo in a research note on Wednesday, April 2nd. They set a “buy” rating on the stock. Morgan Stanley reaffirmed an “underweight” rating on shares of Diageo in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Diageo currently has a consensus rating of “Hold” and a consensus 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.