JARISLOWSKY FRASER Ltd Trims Stake in Diageo plc $DEO

JARISLOWSKY FRASER Ltd cut its stake in shares of Diageo plc (NYSE:DEO) by 43.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 339,798 shares of the company’s stock after selling 263,612 shares during the period. JARISLOWSKY FRASER Ltd’s holdings in Diageo were worth $32,427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Osaic Holdings Inc. raised its position in Diageo by 42.2% during the second quarter. Osaic Holdings Inc. now owns 99,998 shares of the company’s stock valued at $10,099,000 after purchasing an additional 29,674 shares during the period. Savant Capital LLC purchased a new stake in Diageo in the 2nd quarter valued at about $310,000. Philip James Wealth Mangement LLC increased its position in shares of Diageo by 81.8% during the second quarter. Philip James Wealth Mangement LLC now owns 33,107 shares of the company’s stock worth $3,338,000 after acquiring an additional 14,895 shares during the period. Martin Capital Partners LLC raised its stake in shares of Diageo by 225.8% during the second quarter. Martin Capital Partners LLC now owns 32,525 shares of the company’s stock valued at $3,280,000 after acquiring an additional 22,542 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its holdings in shares of Diageo by 0.9% in the third quarter. Confluence Investment Management LLC now owns 1,363,504 shares of the company’s stock valued at $130,119,000 after purchasing an additional 12,678 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DEO shares. Bank of America lowered their price target on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, September 26th. UBS Group reiterated a “neutral” rating on shares of Diageo in a report on Wednesday, December 3rd. Barclays restated an “overweight” rating on shares of Diageo in a research note on Thursday, December 11th. Zacks Research lowered shares of Diageo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Diageo in a research report on Friday, November 28th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $120.67.

Diageo Stock Performance

Shares of DEO stock opened at $87.06 on Friday. The business has a fifty day moving average of $90.19 and a 200 day moving average of $98.52. Diageo plc has a 1 year low of $85.11 and a 1 year high of $126.73. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63.

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.