Diageo plc (NYSE:DEO) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC cut its stake in Diageo plc (NYSE:DEO) by 14.4% in the fourth quarter, HoldingsChannel reports. The fund owned 20,650 shares of the company’s stock after selling 3,480 shares during the period. Sky Investment Group LLC’s holdings in Diageo were worth $2,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of Diageo during the 3rd quarter valued at approximately $25,000. Eastern Bank grew its position in Diageo by 107.8% during the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after buying an additional 125 shares during the period. Modus Advisors LLC purchased a new position in Diageo in the fourth quarter valued at $35,000. Concord Wealth Partners acquired a new position in shares of Diageo in the third quarter worth about $38,000. Finally, Bruce G. Allen Investments LLC raised its position in shares of Diageo by 1,395.0% in the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock worth $42,000 after acquiring an additional 279 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. TD Cowen raised their price objective on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $129.00.

Diageo Price Performance

Shares of Diageo stock opened at $118.75 on Tuesday. Diageo plc has a twelve month low of $113.99 and a twelve month high of $154.71. The firm’s 50-day moving average price is $122.58 and its 200 day moving average price is $127.89. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62.

Diageo Profile

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.