Townsend & Associates Inc decreased its position in shares of Diageo plc (NYSE:DEO) by 16.3% during the third quarter, Holdings Channel.com reports. The fund owned 12,571 shares of the company’s stock after selling 2,446 shares during the quarter. Diageo accounts for 2.0% of Townsend & Associates Inc’s investment portfolio, making the stock its 16th largest holding. Townsend & Associates Inc’s holdings in Diageo were worth $2,045,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. TRUE Private Wealth Advisors purchased a new stake in Diageo during the 2nd quarter valued at approximately $29,000. Meridian Wealth Management LLC purchased a new stake in Diageo during the 2nd quarter valued at approximately $33,000. TCG Advisors LP purchased a new stake in Diageo during the 1st quarter valued at approximately $41,000. Manchester Financial Inc. purchased a new stake in Diageo during the 2nd quarter valued at approximately $45,000. Finally, Advisors Preferred LLC purchased a new stake in Diageo during the 2nd quarter valued at approximately $51,000. Institutional investors own 9.49% of the company’s stock.
DEO traded down $0.66 during trading on Thursday, reaching $164.10. 271,675 shares of the company traded hands, compared to its average volume of 365,391. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.56 and a current ratio of 1.34. Diageo plc has a 12-month low of $131.43 and a 12-month high of $176.22. The firm has a fifty day simple moving average of $165.54 and a 200 day simple moving average of $167.37. The company has a market cap of $106.54 billion, a P/E ratio of 24.31, a PEG ratio of 2.98 and a beta of 0.45.
A number of brokerages have issued reports on DEO. Sanford C. Bernstein raised shares of Diageo from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 10th. Kepler Capital Markets lowered shares of Diageo from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Societe Generale lowered shares of Diageo from a “buy” rating to a “sell” rating in a report on Thursday, September 5th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Diageo from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $178.00.
Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.
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