Wedge Capital Management L L P NC Has $3.63 Million Stake in Diageo plc $DEO

Wedge Capital Management L L P NC lowered its stake in shares of Diageo plc (NYSE:DEO) by 18.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 37,992 shares of the company’s stock after selling 8,453 shares during the period. Wedge Capital Management L L P NC’s holdings in Diageo were worth $3,626,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Addenda Capital Inc. increased its stake in Diageo by 26.9% during the third quarter. Addenda Capital Inc. now owns 80,968 shares of the company’s stock valued at $7,727,000 after acquiring an additional 17,182 shares during the period. Keystone Financial Planning Inc. bought a new stake in shares of Diageo during the third quarter valued at approximately $8,308,000. Wynn Capital LLC increased its position in shares of Diageo by 4.5% during the third quarter. Wynn Capital LLC now owns 4,872 shares of the company’s stock valued at $465,000 after purchasing an additional 210 shares during the period. Old Port Advisors raised its stake in shares of Diageo by 9.4% in the third quarter. Old Port Advisors now owns 18,164 shares of the company’s stock valued at $1,733,000 after purchasing an additional 1,557 shares in the last quarter. Finally, HF Advisory Group LLC lifted its position in Diageo by 3.8% in the third quarter. HF Advisory Group LLC now owns 9,814 shares of the company’s stock worth $937,000 after purchasing an additional 359 shares during the period. Institutional investors own 8.97% of the company’s stock.

Diageo Stock Down 2.7%

Shares of Diageo stock opened at $86.79 on Tuesday. The firm’s 50-day moving average price is $92.14 and its two-hundred day moving average price is $99.67. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. Diageo plc has a 1-year low of $85.13 and a 1-year high of $127.90.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DEO shares. Barclays reissued an “overweight” rating on shares of Diageo in a report on Thursday, December 11th. Bank of America decreased their target price on shares of Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, September 26th. UBS Group reissued a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Finally, Zacks Research lowered Diageo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Diageo presently has a consensus rating of “Hold” and an average price target of $119.00.

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.