MAI Capital Management Sells 14,979 Shares of Diageo plc (NYSE:DEO)

MAI Capital Management trimmed its holdings in Diageo plc (NYSE:DEO) by 33.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,326 shares of the company’s stock after selling 14,979 shares during the quarter. MAI Capital Management’s holdings in Diageo were worth $4,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Beacon Capital Management LLC lifted its position in shares of Diageo by 777.3% during the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after purchasing an additional 171 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Diageo in the 2nd quarter valued at $25,000. Triad Wealth Partners LLC acquired a new stake in shares of Diageo in the 2nd quarter valued at $25,000. Concord Wealth Partners acquired a new stake in shares of Diageo in the 3rd quarter valued at $38,000. Finally, Bruce G. Allen Investments LLC raised its position in shares of Diageo by 1,395.0% during the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock worth $42,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DEO shares. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Diageo Stock Up 0.3 %

Shares of NYSE:DEO opened at $119.22 on Wednesday. The firm’s 50 day simple moving average is $131.21 and its 200 day simple moving average is $131.47. Diageo plc has a fifty-two week low of $117.84 and a fifty-two week high of $154.71. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.