Diageo plc (NYSE:DEO) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. lowered its stake in Diageo plc (NYSE:DEO) by 8.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,506 shares of the company’s stock after selling 317 shares during the quarter. Grimes & Company Inc.’s holdings in Diageo were worth $367,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. FMR LLC lifted its position in shares of Diageo by 10.9% in the fourth quarter. FMR LLC now owns 5,813,938 shares of the company’s stock valued at $739,126,000 after acquiring an additional 571,873 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in Diageo by 234.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company’s stock worth $330,627,000 after purchasing an additional 1,822,994 shares in the last quarter. Royal Bank of Canada raised its stake in Diageo by 0.3% in the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company’s stock valued at $195,883,000 after purchasing an additional 3,876 shares during the last quarter. Bank of Montreal Can raised its stake 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 purchasing an additional 1,296,285 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted 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 purchasing an additional 103,540 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DEO. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Berenberg Bank began coverage on shares of Diageo in a research report on Wednesday, April 2nd. They set a “buy” rating on the stock. Finally, 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 issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $129.00.

Diageo Stock Down 0.8%

Shares of NYSE:DEO opened at $102.31 on Wednesday. The stock’s 50-day moving average price is $110.26 and its two-hundred day moving average price is $113.69. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. Diageo plc has a 12-month low of $100.72 and a 12-month high of $142.73. The firm has a market cap of $56.92 billion, a price-to-earnings ratio of 14.94 and a beta of 0.58.

Diageo Company 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.