South State CORP. Sells 116 Shares of Diageo plc (NYSE:DEO)

South State CORP. cut its stake in Diageo plc (NYSE:DEO) by 1.0% in the 1st quarter, Holdings Channel reports. The firm owned 12,032 shares of the company’s stock after selling 116 shares during the period. South State CORP.’s holdings in Diageo were worth $1,976,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of DEO. AKO Capital LLP bought a new position in shares of Diageo in the 1st quarter worth about $122,963,000. Cullen Capital Management LLC increased its stake in shares of Diageo by 374.1% in the 1st quarter. Cullen Capital Management LLC now owns 667,309 shares of the company’s stock worth $109,579,000 after acquiring an additional 526,546 shares in the last quarter. BlackRock Inc. grew its position in Diageo by 313.2% during the 1st quarter. BlackRock Inc. now owns 651,823 shares of the company’s stock valued at $107,036,000 after purchasing an additional 494,091 shares during the last quarter. FMR LLC grew its position in Diageo by 586.2% during the 1st quarter. FMR LLC now owns 309,135 shares of the company’s stock valued at $50,578,000 after purchasing an additional 264,083 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in Diageo by 26.4% during the 4th quarter. Clearbridge Investments LLC now owns 1,237,973 shares of the company’s stock valued at $196,602,000 after purchasing an additional 258,833 shares during the last quarter. Institutional investors and hedge funds own 10.41% of the company’s stock.

Shares of DEO traded down $0.73 during mid-day trading on Friday, hitting $194.22. 522 shares of the company traded hands, compared to its average volume of 428,293. Diageo plc has a 1-year low of $127.12 and a 1-year high of $195.88. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.77 and a quick ratio of 0.91. The company has a market capitalization of $113.61 billion, a P/E ratio of 35.45, a PEG ratio of 3.73 and a beta of 0.67. The firm’s 50 day simple moving average is $183.94.

A number of analysts have recently issued reports on DEO shares. Citigroup reaffirmed a “neutral” rating on shares of Diageo in a report on Thursday, May 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Diageo in a research note on Thursday, May 13th. Zacks Investment Research cut shares of Diageo from a “buy” rating to a “hold” rating and set a $176.00 target price on the stock. in a research note on Tuesday, March 30th. Berenberg Bank reiterated a “hold” rating on shares of Diageo in a research report on Friday, May 14th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Diageo in a research report on Thursday, May 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Diageo has an average rating of “Buy” and an average price target of $188.33.

Diageo Profile

Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages. The company offers scotch, whisky, gin, vodka, rum, ready to drink products, Irish cream liqueur, raki, liqueur, wine, tequila, Canadian whisky, American whiskey, adult beverages, cachaça, spirits, and brandy, as well as beer, including cider and non-alcoholic products.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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