Prime Capital Investment Advisors LLC Decreases Stock Holdings in Diageo plc $DEO

Prime Capital Investment Advisors LLC cut its stake in shares of Diageo plc (NYSE:DEO) by 31.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,564 shares of the company’s stock after selling 6,213 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Diageo were worth $1,294,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DEO. Bessemer Group Inc. raised its position in shares of Diageo by 37.8% during the third quarter. Bessemer Group Inc. now owns 3,550 shares of the company’s stock valued at $339,000 after buying an additional 973 shares during the last quarter. Cullen Capital Management LLC increased its holdings in Diageo by 67.5% in the 3rd quarter. Cullen Capital Management LLC now owns 1,309,258 shares of the company’s stock valued at $124,943,000 after acquiring an additional 527,814 shares during the last quarter. Gallacher Capital Management LLC lifted its stake in Diageo by 27.7% in the 3rd quarter. Gallacher Capital Management LLC now owns 4,242 shares of the company’s stock worth $405,000 after purchasing an additional 920 shares in the last quarter. Equity Investment Corp purchased a new stake in Diageo in the 3rd quarter worth $92,970,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Diageo by 8.5% during the third quarter. Envestnet Asset Management Inc. now owns 1,547,626 shares of the company’s stock valued at $147,690,000 after purchasing an additional 121,008 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Down 0.2%

NYSE DEO opened at $96.90 on Monday. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64. The firm’s 50 day moving average price is $89.30 and its 200-day moving average price is $96.32. Diageo plc has a 52-week low of $84.52 and a 52-week high of $116.69.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays restated an “overweight” rating on shares of Diageo in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research note on Wednesday, January 21st. Zacks Research cut Diageo from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Diageo in a report on Friday, November 28th. Finally, Royal Bank Of Canada raised shares of Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Diageo has a consensus rating of “Hold” and an average target price of $116.50.

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.