Diageo plc $DEO Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its holdings in shares of Diageo plc (NYSE:DEO) by 58.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 46,416 shares of the company’s stock after selling 65,339 shares during the period. Cetera Investment Advisers’ holdings in Diageo were worth $3,456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Montreal Can lifted its stake in shares of Diageo by 428.7% during the fourth quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock worth $187,469,000 after purchasing an additional 1,762,027 shares in the last quarter. Morgan Stanley grew its stake in shares of Diageo by 32.4% in the fourth quarter. Morgan Stanley now owns 1,947,245 shares of the company’s stock valued at $167,989,000 after buying an additional 476,979 shares in the last quarter. Orbis Allan Gray Ltd grew its stake in shares of Diageo by 12.4% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,737,346 shares of the company’s stock valued at $149,881,000 after buying an additional 191,216 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of Diageo by 48.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock valued at $162,410,000 after buying an additional 555,509 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Diageo by 53.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company’s stock valued at $102,124,000 after buying an additional 477,999 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DEO shares. Loop Capital set a $99.00 price target on Diageo in a report on Thursday, June 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research note on Friday, July 17th. Zacks Research cut shares of Diageo from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Finally, TD Cowen raised shares of Diageo from a “hold” rating to a “buy” rating and upped their price objective for the company from $88.00 to $93.00 in a research report on Thursday, June 25th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $106.25.

Diageo Stock Performance

Diageo stock opened at $88.30 on Thursday. Diageo plc has a 12 month low of $72.45 and a 12 month high of $116.41. The company has a fifty day moving average price of $82.66 and a two-hundred day moving average price of $83.80. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53.

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.