Avidian Wealth Enterprises LLC Lowers Stock Holdings in Diageo plc (NYSE:DEO)

Avidian Wealth Enterprises LLC lowered its position in shares of Diageo plc (NYSE:DEO) by 15.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,508 shares of the company’s stock after selling 464 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Diageo were worth $352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can lifted its position in 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 buying an additional 729,166 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of 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 acquiring an additional 420,778 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Diageo by 52.3% in the 3rd quarter. Raymond James & Associates now owns 853,640 shares of the company’s stock worth $119,800,000 after acquiring an additional 293,017 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Diageo by 12,174.6% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 246,229 shares of the company’s stock valued at $31,045,000 after purchasing an additional 244,223 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in shares of Diageo during the 3rd quarter valued at $24,995,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Up 1.7 %

NYSE DEO opened at $121.73 on Friday. The business’s 50-day moving average is $132.96 and its 200 day moving average is $132.72. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. Diageo plc has a 1 year low of $118.35 and a 1 year high of $161.64.

Wall Street Analysts Forecast Growth

DEO has been the subject of several analyst reports. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group lowered Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Diageo presently has an average rating of “Hold”.

Diageo Profile

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.