The Manufacturers Life Insurance Company Lowers Stock Holdings in Diageo plc $DEO

The Manufacturers Life Insurance Company cut its holdings in Diageo plc (NYSE:DEO) by 98.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,172 shares of the company’s stock after selling 1,366,299 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Diageo were worth $1,353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Diageo in the 4th quarter worth $202,000. Russell Investments Group Ltd. raised its position in Diageo by 17.0% during the second quarter. Russell Investments Group Ltd. now owns 3,952 shares of the company’s stock worth $399,000 after acquiring an additional 574 shares during the period. Invesco Ltd. lifted its holdings in Diageo by 5.3% during the second quarter. Invesco Ltd. now owns 212,004 shares of the company’s stock valued at $21,379,000 after purchasing an additional 10,653 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Diageo by 87.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,234 shares of the company’s stock valued at $124,000 after purchasing an additional 575 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Diageo in the second quarter valued at about $444,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research report on Friday, July 17th. TD Cowen reiterated a “buy” rating on shares of Diageo in a research note on Monday. Zacks Research cut Diageo from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Finally, Loop Capital set a $99.00 target price on Diageo in a research report on Thursday, June 18th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $106.25.

Diageo Stock Performance

Diageo stock opened at $94.96 on Wednesday. The company has a fifty day simple moving average of $83.75 and a 200-day simple moving average of $83.97. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. Diageo plc has a 52-week low of $72.45 and a 52-week high of $116.41.

Diageo Profile

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.