Pinnacle Financial Partners Inc Trims Stake in Diageo plc (NYSE:DEO)

Pinnacle Financial Partners Inc trimmed its position in Diageo plc (NYSE:DEO) by 8.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,725 shares of the company’s stock after selling 4,849 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Diageo were worth $7,399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in DEO. Triad Wealth Partners LLC purchased a new position in Diageo during the 2nd quarter valued at about $25,000. 1620 Investment Advisors Inc. purchased a new position in Diageo during the second quarter valued at approximately $25,000. Beacon Capital Management LLC raised its stake in Diageo by 777.3% in the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after buying an additional 171 shares in the last quarter. Concord Wealth Partners purchased a new stake in Diageo during the third quarter worth $38,000. Finally, Bruce G. Allen Investments LLC boosted its position in Diageo by 1,395.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock valued at $42,000 after acquiring an additional 279 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Diageo Stock Down 0.4 %

Shares of DEO stock opened at $119.20 on Thursday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. Diageo plc has a fifty-two week low of $117.84 and a fifty-two week high of $154.71. The firm has a market capitalization of $66.31 billion, a PE ratio of 16.93, a P/E/G ratio of 3.41 and a beta of 0.71. The stock’s 50-day simple moving average is $132.12 and its 200-day simple moving average is $132.12.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Diageo currently has an average 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.