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

MAI Capital Management lessened its holdings in shares of Diageo plc (NYSE:DEO) by 33.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,326 shares of the company’s stock after selling 14,979 shares during the period. MAI Capital Management’s holdings in Diageo were worth $4,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of Montreal Can lifted its stake in Diageo by 1,034.5% in the second quarter. Bank of Montreal Can now owns 799,652 shares of the company’s stock valued at $104,443,000 after buying an additional 729,166 shares in the last quarter. Natixis Advisors LLC lifted its position in Diageo by 105.7% in the 3rd quarter. Natixis Advisors LLC now owns 949,411 shares of the company’s stock valued at $133,240,000 after acquiring an additional 487,904 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Diageo by 416.0% in the 2nd quarter. Hsbc Holdings PLC now owns 521,920 shares of the company’s stock worth $65,939,000 after purchasing an additional 420,778 shares during the period. Raymond James & Associates increased 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 purchasing an additional 293,017 shares in the last quarter. Finally, Confluence Investment Management LLC increased its holdings in Diageo by 30.5% during the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after purchasing an additional 284,046 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Price Performance

Diageo stock opened at $119.22 on Wednesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. The firm has a 50-day moving average of $131.21 and a 200-day moving average of $131.47. Diageo plc has a one year low of $117.84 and a one year high of $154.71.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average 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.