Wedge Capital Management L L P NC Has $3.63 Million Holdings in Diageo plc $DEO

Wedge Capital Management L L P NC cut its stake in Diageo plc (NYSE:DEO) by 18.2% in the third quarter, HoldingsChannel reports. The fund owned 37,992 shares of the company’s stock after selling 8,453 shares during the period. Wedge Capital Management L L P NC’s holdings in Diageo were worth $3,626,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Twin Peaks Wealth Advisors LLC bought a new position in Diageo in the 2nd quarter worth approximately $26,000. Bell Investment Advisors Inc increased its stake in shares of Diageo by 94.7% in the 2nd quarter. Bell Investment Advisors Inc now owns 292 shares of the company’s stock valued at $29,000 after buying an additional 142 shares during the period. Truvestments Capital LLC bought a new stake in shares of Diageo during the first quarter worth $30,000. HHM Wealth Advisors LLC lifted its stake in shares of Diageo by 76.5% during the second quarter. HHM Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $33,000 after acquiring an additional 143 shares during the period. Finally, Whipplewood Advisors LLC boosted its holdings in Diageo by 84.0% in the second quarter. Whipplewood Advisors LLC now owns 357 shares of the company’s stock valued at $36,000 after acquiring an additional 163 shares during the last quarter. 8.97% of the stock is owned by institutional investors.

Diageo Stock Down 2.7%

Shares of Diageo stock opened at $86.79 on Tuesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. The business has a 50-day moving average of $92.14 and a two-hundred day moving average of $99.67. Diageo plc has a 1 year low of $85.13 and a 1 year high of $127.90.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research downgraded shares of Diageo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Bank of America cut their price objective on shares of Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Barclays reaffirmed an “overweight” rating on shares of Diageo in a report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Diageo in a research note on Friday, November 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $119.00.

Diageo 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.