NorthCrest Asset Manangement LLC Decreases Stock Holdings in Diageo plc $DEO

NorthCrest Asset Manangement LLC lessened its holdings in Diageo plc (NYSE:DEO) by 18.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,313 shares of the company’s stock after selling 11,732 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Diageo were worth $4,825,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Diageo by 3.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 146,716 shares of the company’s stock worth $14,070,000 after buying an additional 4,791 shares during the period. Royal Fund Management LLC acquired a new stake in Diageo in the third quarter valued at approximately $2,984,000. Sequoia Financial Advisors LLC raised its stake in shares of Diageo by 111.9% during the third quarter. Sequoia Financial Advisors LLC now owns 5,484 shares of the company’s stock valued at $523,000 after purchasing an additional 2,896 shares during the period. Evergreen Capital Management LLC lifted its position in shares of Diageo by 186.6% during the third quarter. Evergreen Capital Management LLC now owns 12,406 shares of the company’s stock worth $1,184,000 after purchasing an additional 8,077 shares in the last quarter. Finally, Arlington Trust Co LLC grew its holdings in Diageo by 3,885.7% during the 3rd quarter. Arlington Trust Co LLC now owns 279 shares of the company’s stock valued at $27,000 after purchasing an additional 272 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 brokerages have commented on DEO. UBS Group reiterated a “neutral” rating on shares of Diageo in a report on Wednesday, December 3rd. Sanford C. Bernstein set a $124.00 price target on shares of Diageo and gave the stock an “outperform” rating in a research note on Monday, December 29th. Barclays reissued an “overweight” rating on shares of Diageo in a report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Diageo in a research report on Friday, November 28th. Finally, Bank of America lowered their price objective on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a report on Friday, September 26th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Diageo currently has an average rating of “Hold” and an average price target of $116.50.

Diageo Stock Down 0.9%

Shares of DEO stock opened at $88.54 on Tuesday. The business has a 50 day moving average of $89.37 and a two-hundred day moving average of $97.47. Diageo plc has a 52 week low of $84.52 and a 52 week high of $125.94. 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.