Sky Investment Group LLC Cuts Stake in Diageo plc (NYSE:DEO)

Sky Investment Group LLC lessened its holdings in shares of Diageo plc (NYSE:DEO) by 14.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,650 shares of the company’s stock after selling 3,480 shares during the period. Sky Investment Group LLC’s holdings in Diageo were worth $2,625,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DEO. Brooklyn Investment Group acquired a new position in Diageo during the 3rd quarter valued at about $25,000. Eastern Bank grew its stake in shares of Diageo by 107.8% during the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after acquiring an additional 125 shares during the last quarter. Modus Advisors LLC acquired a new position in shares of Diageo during the fourth quarter valued at about $35,000. Concord Wealth Partners purchased a new position in shares of Diageo in the 3rd quarter valued at approximately $38,000. Finally, Bruce G. Allen Investments LLC boosted its stake in Diageo by 1,395.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock worth $42,000 after purchasing an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

DEO has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. TD Cowen upped their target price on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Finally, UBS Group raised Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $129.00.

Diageo Stock Up 1.2 %

Shares of NYSE DEO opened at $118.75 on Tuesday. The company has a 50 day simple moving average of $122.58 and a two-hundred day simple moving average of $127.89. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. Diageo plc has a 12 month low of $113.99 and a 12 month high of $154.71.

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.