HM Payson & Co. Lowers Stock Position in Diageo plc (NYSE:DEO)

HM Payson & Co. reduced its position in Diageo plc (NYSE:DEO) by 10.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 42,022 shares of the company’s stock after selling 4,862 shares during the period. HM Payson & Co.’s holdings in Diageo were worth $5,897,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in shares of Diageo by 1,034.5% in the 2nd quarter. Bank of Montreal Can now owns 799,652 shares of the company’s stock worth $104,443,000 after purchasing an additional 729,166 shares during the last quarter. Hsbc Holdings PLC raised its position in Diageo by 416.0% in the second quarter. Hsbc Holdings PLC now owns 521,920 shares of the company’s stock worth $65,939,000 after acquiring an additional 420,778 shares in the last quarter. Raymond James & Associates raised its holdings in Diageo by 52.3% during the 3rd quarter. Raymond James & Associates now owns 853,640 shares of the company’s stock worth $119,800,000 after buying an additional 293,017 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in Diageo by 12,174.6% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 246,229 shares of the company’s stock worth $31,045,000 after buying an additional 244,223 shares during the period. Finally, Mediolanum International Funds Ltd acquired a new stake in Diageo during the 3rd quarter worth about $24,995,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Down 1.8 %

NYSE:DEO traded down $2.27 on Thursday, hitting $125.48. 49,144 shares of the company’s stock traded hands, compared to its average volume of 751,628. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. Diageo plc has a 1 year low of $119.48 and a 1 year high of $161.64. The firm has a 50-day moving average price of $134.06 and a 200-day moving average price of $133.28. The company has a market cap of $69.80 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 3.84 and a beta of 0.69.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. The Goldman Sachs Group downgraded Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Three research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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.