Fayez Sarofim & Co Has $33.02 Million Stock Position in Diageo plc $DEO

Fayez Sarofim & Co reduced its holdings in shares of Diageo plc (NYSE:DEO) by 22.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 346,024 shares of the company’s stock after selling 99,249 shares during the quarter. Fayez Sarofim & Co owned approximately 0.06% of Diageo worth $33,021,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DEO. Dorsey & Whitney Trust CO LLC boosted its holdings in Diageo by 3.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 3,287 shares of the company’s stock worth $331,000 after purchasing an additional 96 shares during the last quarter. Integrated Advisors Network LLC grew its position in Diageo by 3.5% in the third quarter. Integrated Advisors Network LLC now owns 3,110 shares of the company’s stock valued at $297,000 after purchasing an additional 104 shares in the last quarter. Retirement Planning Co of New England Inc. increased its stake in Diageo by 2.0% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 5,684 shares of the company’s stock valued at $542,000 after buying an additional 114 shares during the last quarter. Three Bridge Wealth Advisors LLC increased its stake in Diageo by 2.0% in the 3rd quarter. Three Bridge Wealth Advisors LLC now owns 6,246 shares of the company’s stock valued at $596,000 after buying an additional 124 shares during the last quarter. Finally, Bridgewater Advisors Inc. lifted its position in Diageo by 4.9% during the 3rd quarter. Bridgewater Advisors Inc. now owns 2,702 shares of the company’s stock worth $236,000 after buying an additional 125 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DEO shares. Royal Bank Of Canada upgraded shares of Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a report on Wednesday, January 21st. Sanford C. Bernstein set a $124.00 price target on Diageo and gave the company an “outperform” rating in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Diageo in a research note on Friday, November 28th. Finally, HSBC lowered Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $116.50.

Diageo Stock Up 0.8%

Shares of DEO stock opened at $77.37 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. The firm’s 50-day moving average is $90.56 and its 200-day moving average is $93.18. Diageo plc has a 52-week low of $75.77 and a 52-week high of $116.69.

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.