Hamel Associates Inc. Cuts Stock Holdings in Diageo plc $DEO

Hamel Associates Inc. reduced its stake in Diageo plc (NYSE:DEO) by 70.5% during the 1st quarter, Holdings Channel reports. The fund owned 6,405 shares of the company’s stock after selling 15,275 shares during the quarter. Hamel Associates Inc.’s holdings in Diageo were worth $477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DEO. Dimensional Fund Advisors LP increased its holdings in Diageo by 53.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company’s stock worth $102,124,000 after purchasing an additional 477,999 shares during the period. Advisortrust Partners LLC grew its position in shares of Diageo by 24.8% during the first quarter. Advisortrust Partners LLC now owns 5,954 shares of the company’s stock worth $443,000 after buying an additional 1,184 shares in the last quarter. Gallacher Capital Management LLC grew its position in shares of Diageo by 17.2% during the first quarter. Gallacher Capital Management LLC now owns 3,134 shares of the company’s stock worth $233,000 after buying an additional 460 shares in the last quarter. BCGM Wealth Management LLC increased its stake in shares of Diageo by 9.3% during the first quarter. BCGM Wealth Management LLC now owns 15,504 shares of the company’s stock worth $1,154,000 after buying an additional 1,315 shares during the period. Finally, D.A. Davidson & CO. increased its stake in shares of Diageo by 8.8% during the first quarter. D.A. Davidson & CO. now owns 31,582 shares of the company’s stock worth $2,351,000 after buying an additional 2,561 shares during the period. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Price Performance

Shares of Diageo stock opened at $83.98 on Monday. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 1.53. Diageo plc has a 52 week low of $72.45 and a 52 week high of $116.41. The firm’s 50 day moving average is $81.98 and its two-hundred day moving average is $83.96.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Zacks Research raised shares of Diageo from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. TD Cowen raised shares of Diageo from a “hold” rating to a “buy” rating and increased their price objective for the company from $88.00 to $93.00 in a research report on Thursday, June 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Finally, BNP Paribas Exane upgraded shares of Diageo from an “underperform” rating to a “neutral” rating in a research note on Wednesday, March 25th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Diageo has an average rating of “Hold” and an average price target of $106.25.

Diageo Company Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.