Cullen Frost Bankers Inc. Lowers Stock Position in Diageo plc (NYSE:DEO)

Cullen Frost Bankers Inc. trimmed its position in Diageo plc (NYSE:DEO) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,272 shares of the company’s stock after selling 117 shares during the period. Cullen Frost Bankers Inc.’s holdings in Diageo were worth $768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DEO. Bank of New York Mellon Corp lifted its holdings in Diageo by 20.3% in the third quarter. Bank of New York Mellon Corp now owns 353,619 shares of the company’s stock valued at $52,753,000 after acquiring an additional 59,597 shares during the period. Park Avenue Securities LLC acquired a new position in shares of Diageo during the 3rd quarter worth $862,000. TD Asset Management Inc raised its stake in shares of Diageo by 1.7% during the 3rd quarter. TD Asset Management Inc now owns 4,681 shares of the company’s stock worth $698,000 after buying an additional 77 shares during the last quarter. TIAA Trust National Association acquired a new position in shares of Diageo during the 3rd quarter worth $838,000. Finally, Carmel Capital Partners LLC acquired a new position in shares of Diageo during the 3rd quarter worth $49,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, BNP Paribas downgraded Diageo from a “neutral” rating to an “underperform” rating in a research note on Friday, January 12th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $3,797.50.

Diageo Price Performance

DEO stock opened at $142.58 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73. Diageo plc has a 1 year low of $135.63 and a 1 year high of $183.77. The stock’s fifty day moving average is $144.15 and its two-hundred day moving average is $145.28.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.