Diageo plc $DEO Stock Position Reduced by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. cut its stake in shares of Diageo plc (NYSE:DEO) by 58.7% during the first quarter, HoldingsChannel.com reports. The firm owned 19,688 shares of the company’s stock after selling 27,990 shares during the period. Levin Capital Strategies L.P.’s holdings in Diageo were worth $1,466,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. NewEdge Wealth LLC grew its holdings in shares of Diageo by 45.8% during the 1st quarter. NewEdge Wealth LLC now owns 29,744 shares of the company’s stock valued at $2,214,000 after acquiring an additional 9,350 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Diageo by 12.0% during the first quarter. First Trust Advisors LP now owns 463,572 shares of the company’s stock worth $34,513,000 after acquiring an additional 49,504 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Diageo during the first quarter worth $34,000. Dimensional Fund Advisors LP boosted its position in Diageo by 53.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company’s stock valued at $102,124,000 after purchasing an additional 477,999 shares during the last quarter. Finally, Advisortrust Partners LLC boosted its position in Diageo by 24.8% during the first quarter. Advisortrust Partners LLC now owns 5,954 shares of the company’s stock valued at $443,000 after purchasing an additional 1,184 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Performance

Diageo stock opened at $84.42 on Thursday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60. Diageo plc has a 1-year low of $72.45 and a 1-year high of $116.41. The firm’s fifty day simple moving average is $82.16 and its 200-day simple moving average is $83.92.

Analyst Ratings Changes

A number of research analysts have commented on the company. Loop Capital set a $99.00 target price on Diageo in a research note on Thursday, June 18th. TD Cowen raised Diageo from a “hold” rating to a “buy” rating and raised their price target for the stock from $88.00 to $93.00 in a research note on Thursday, June 25th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research note on Friday, July 17th. Finally, BNP Paribas Exane upgraded Diageo from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 25th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Diageo presently has an average rating of “Hold” and an average price target of $106.25.

About Diageo

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.