Sky Investment Group LLC Sells 12,257 Shares of Diageo plc $DEO

Sky Investment Group LLC decreased its stake in shares of Diageo plc (NYSE:DEO) by 74.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,257 shares of the company’s stock after selling 12,257 shares during the period. Sky Investment Group LLC’s holdings in Diageo were worth $406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DEO. Brighton Jones LLC bought a new position in Diageo during the 4th quarter worth about $202,000. Nuveen LLC acquired a new position in shares of Diageo during the first quarter worth about $1,060,000. Russell Investments Group Ltd. grew its holdings in shares of Diageo by 11.0% during the first quarter. Russell Investments Group Ltd. now owns 3,378 shares of the company’s stock worth $354,000 after buying an additional 336 shares in the last quarter. American Century Companies Inc. raised its position in Diageo by 3.8% in the 1st quarter. American Century Companies Inc. now owns 106,859 shares of the company’s stock valued at $11,198,000 after buying an additional 3,894 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in Diageo by 91.4% in the 1st quarter. Brooklyn Investment Group now owns 735 shares of the company’s stock valued at $77,000 after acquiring an additional 351 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DEO shares. Bank of America decreased their price target on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Zacks Research cut shares of Diageo from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Diageo in a research report on Friday, November 28th. UBS Group reissued a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $119.00.

Diageo Price Performance

Shares of DEO opened at $89.14 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. The company’s fifty day simple moving average is $92.32 and its 200 day simple moving average is $99.93. Diageo plc has a 1-year low of $85.13 and a 1-year high of $127.90.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.