Essex Financial Services Inc. Has $542,000 Holdings in Diageo plc (NYSE:DEO)

Essex Financial Services Inc. trimmed its stake in shares of Diageo plc (NYSE:DEO) by 5.4% during the fourth quarter, HoldingsChannel reports. The fund owned 4,261 shares of the company’s stock after selling 241 shares during the period. Essex Financial Services Inc.’s holdings in Diageo were worth $542,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its holdings in Diageo by 1.1% during the 3rd quarter. Global Retirement Partners LLC now owns 8,146 shares of the company’s stock worth $1,143,000 after purchasing an additional 85 shares in the last quarter. Alliance Wealth Advisors LLC UT boosted its position in shares of Diageo by 2.6% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,383 shares of the company’s stock worth $430,000 after buying an additional 86 shares during the period. Savant Capital LLC boosted its position in shares of Diageo by 5.0% during the fourth quarter. Savant Capital LLC now owns 1,864 shares of the company’s stock worth $237,000 after buying an additional 88 shares during the period. Diversified Trust Co grew its holdings in shares of Diageo by 5.6% during the fourth quarter. Diversified Trust Co now owns 1,855 shares of the company’s stock worth $236,000 after buying an additional 98 shares in the last quarter. Finally, Malaga Cove Capital LLC raised its position in Diageo by 3.4% in the 3rd quarter. Malaga Cove Capital LLC now owns 3,001 shares of the company’s stock valued at $421,000 after buying an additional 100 shares during the last quarter. 8.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DEO. TD Cowen upped their price target on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Stock Performance

NYSE:DEO opened at $106.34 on Thursday. Diageo plc has a twelve month low of $105.72 and a twelve month high of $154.71. The company has a quick ratio of 0.55, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The stock’s 50 day moving average price is $121.91 and its two-hundred day moving average price is $126.42.

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.