Manning & Napier Advisors LLC Decreases Stake in Diageo plc (NYSE:DEO)

Manning & Napier Advisors LLC lowered its holdings in Diageo plc (NYSE:DEO) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,887 shares of the company’s stock after selling 422 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Diageo were worth $3,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Diageo by 11.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 37,718 shares of the company’s stock worth $4,795,000 after buying an additional 3,964 shares during the last quarter. Maia Wealth LLC raised its holdings in shares of Diageo by 24.7% during the fourth quarter. Maia Wealth LLC now owns 13,112 shares of the company’s stock valued at $1,648,000 after purchasing an additional 2,593 shares during the last quarter. Aviso Financial Inc. raised its holdings in shares of Diageo by 3.4% during the fourth quarter. Aviso Financial Inc. now owns 242,637 shares of the company’s stock valued at $30,846,000 after purchasing an additional 7,954 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Diageo by 2.5% during the fourth quarter. Bank of New York Mellon Corp now owns 348,598 shares of the company’s stock valued at $44,317,000 after purchasing an additional 8,656 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Diageo by 9.3% during 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. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DEO shares. Berenberg Bank started coverage on shares of Diageo in a research note on Wednesday, April 2nd. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Diageo in a research report on Monday, May 12th. 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $129.00.

Diageo Stock Performance

Shares of DEO opened at $100.72 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The business has a 50-day simple moving average of $109.86 and a two-hundred day simple moving average of $113.26. The stock has a market cap of $56.03 billion, a price-to-earnings ratio of 14.70 and a beta of 0.58. Diageo plc has a 52 week low of $100.10 and a 52 week high of $142.73.

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.