Snowden Capital Advisors LLC Lowers Holdings in Diageo plc (NYSE:DEO)

Snowden Capital Advisors LLC decreased its holdings in Diageo plc (NYSE:DEO) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,291 shares of the company’s stock after selling 1,900 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Diageo were worth $3,851,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DEO. Canoe Financial LP boosted its stake in shares of Diageo by 88,407.3% in the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after purchasing an additional 8,104,301 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in shares of Diageo by 234.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company’s stock valued at $330,627,000 after purchasing an additional 1,822,994 shares during the period. Bank of Montreal Can boosted its stake in shares of Diageo by 1,181.5% in the fourth 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 period. Raymond James Financial Inc. purchased a new position in shares of Diageo in the fourth quarter valued at approximately $123,892,000. Finally, FMR LLC boosted its stake 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 purchasing an additional 571,873 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 $115.03 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The firm has a market cap of $63.99 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.39 and a beta of 0.60. The company’s 50 day simple moving average is $109.20 and its 200-day simple moving average is $115.59. Diageo plc has a 12-month low of $100.72 and a 12-month high of $142.73.

Analyst Upgrades and Downgrades

DEO has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Morgan Stanley reaffirmed an “underweight” rating on shares of Diageo in a report on Monday. Finally, Berenberg Bank assumed coverage on shares of Diageo in a report on Wednesday, April 2nd. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.