Prevatt Capital Ltd Trims Stock Position in Diageo plc (NYSE:DEO)

Prevatt Capital Ltd reduced its holdings in Diageo plc (NYSE:DEO) by 35.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,000 shares of the company’s stock after selling 97,500 shares during the quarter. Diageo accounts for about 8.3% of Prevatt Capital Ltd’s investment portfolio, making the stock its 7th largest holding. Prevatt Capital Ltd’s holdings in Diageo were worth $25,261,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DEO. Triad Wealth Partners LLC acquired a new position in Diageo in the 2nd quarter worth $25,000. 1620 Investment Advisors Inc. acquired a new position in shares of Diageo during the second quarter worth about $25,000. Brooklyn Investment Group bought a new position in shares of Diageo during the third quarter worth about $25,000. Concord Wealth Partners bought a new position in shares of Diageo during the third quarter worth about $38,000. Finally, Bruce G. Allen Investments LLC raised its position in Diageo by 1,395.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock valued at $42,000 after buying an additional 279 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Price Performance

NYSE DEO opened at $118.94 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. The firm’s fifty day moving average price is $128.37 and its two-hundred day moving average price is $129.88. Diageo plc has a 1 year low of $117.72 and a 1 year high of $154.71.

Wall Street Analysts Forecast Growth

DEO has been the subject of several research reports. Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, 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.