Nelson Capital Management LLC Trims Stake in Diageo plc (NYSE:DEO)

Nelson Capital Management LLC reduced its holdings in Diageo plc (NYSE:DEO) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,268 shares of the company’s stock after selling 395 shares during the quarter. Nelson Capital Management LLC’s holdings in Diageo were worth $3,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DEO. Moneta Group Investment Advisors LLC grew its stake in Diageo by 98,968.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,023,969 shares of the company’s stock worth $360,651,000 after buying an additional 2,021,926 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Diageo by 56.9% during the 1st quarter. Clearbridge Investments LLC now owns 2,384,684 shares of the company’s stock worth $432,057,000 after acquiring an additional 864,824 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Diageo in the first quarter worth $89,331,000. Kovitz Investment Group Partners LLC bought a new position in Diageo in the second quarter valued at $77,625,000. Finally, Morgan Stanley raised its position in Diageo by 13.2% during the fourth quarter. Morgan Stanley now owns 3,725,502 shares of the company’s stock valued at $663,848,000 after purchasing an additional 433,105 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

DEO stock traded up $1.39 during trading on Friday, reaching $141.07. The company had a trading volume of 1,030,557 shares, compared to its average volume of 443,380. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.63 and a quick ratio of 0.62. Diageo plc has a 52 week low of $135.63 and a 52 week high of $191.93. The business has a 50 day moving average of $152.71 and a 200 day moving average of $165.73.

Analyst Ratings Changes

A number of research firms have recently issued reports on DEO. StockNews.com assumed coverage on Diageo in a report on Thursday, October 5th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft increased their price target on shares of Diageo from GBX 2,920 ($35.86) to GBX 2,950 ($36.23) in a research report on Friday, September 8th. Barclays lowered their price objective on shares of Diageo from GBX 4,720 ($57.96) to GBX 4,440 ($54.53) in a report on Wednesday, August 2nd. TD Cowen began coverage on shares of Diageo in a report on Friday, September 15th. They set a “market perform” rating on the stock. Finally, Credit Suisse Group lowered their price target on shares of Diageo from GBX 3,850 ($47.28) to GBX 3,800 ($46.67) in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Diageo has a consensus rating of “Hold” and an average target price of $3,898.33.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.