Mill Capital Management LLC Cuts Holdings in Diageo plc (NYSE:DEO)

Mill Capital Management LLC lowered its position in Diageo plc (NYSE:DEO) by 91.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,341 shares of the company’s stock after selling 101,266 shares during the quarter. Mill Capital Management LLC’s holdings in Diageo were worth $979,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GeoWealth Management LLC increased its stake in shares of Diageo by 1.3% during the fourth quarter. GeoWealth Management LLC now owns 6,944 shares of the company’s stock valued at $883,000 after acquiring an additional 92 shares during the period. Aptus Capital Advisors LLC lifted its holdings 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 during the period. Grove Bank & Trust boosted its stake in 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 buying an additional 98 shares in the last quarter. Malaga Cove Capital LLC grew its holdings in Diageo by 3.3% during the fourth quarter. Malaga Cove Capital LLC now owns 3,101 shares of the company’s stock worth $394,000 after acquiring an additional 100 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in Diageo by 2.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,735 shares of the company’s stock worth $475,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of DEO opened at $101.16 on Wednesday. The company has a 50-day moving average of $109.53 and a two-hundred day moving average of $113.01. The stock has a market cap of $56.28 billion, a price-to-earnings ratio of 14.77 and a beta of 0.58. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. Diageo plc has a one year low of $99.26 and a one year high of $142.73.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DEO. Berenberg Bank began coverage on shares of Diageo in a report on Wednesday, April 2nd. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Morgan Stanley restated an “underweight” rating on shares of Diageo in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Diageo currently has a consensus rating of “Hold” and a consensus target price of $129.00.

About Diageo

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.