Franklin Resources Inc. Sells 11,589 Shares of Diageo plc (NYSE:DEO)

Franklin Resources Inc. reduced its stake in Diageo plc (NYSE:DEO) by 8.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,038 shares of the company’s stock after selling 11,589 shares during the quarter. Franklin Resources Inc.’s holdings in Diageo were worth $16,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of DEO. Brooklyn Investment Group bought a new position in shares of Diageo in the 3rd quarter worth $25,000. Concord Wealth Partners purchased a new position in Diageo in the third quarter worth $38,000. Bruce G. Allen Investments LLC increased its stake in Diageo by 1,395.0% in the third 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 during the last quarter. Davis Capital Management purchased a new stake in Diageo during the third quarter valued at about $55,000. Finally, Maryland Capital Advisors Inc. bought a new stake in Diageo during the third quarter worth about $56,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Down 1.4 %

DEO opened at $125.47 on Friday. The company has a market cap of $69.80 billion, a P/E ratio of 18.18, a P/E/G ratio of 3.59 and a beta of 0.69. Diageo plc has a 12 month low of $117.72 and a 12 month high of $154.71. The business’s 50-day moving average price is $125.46 and its 200-day moving average price is $129.05. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62.

Wall Street Analysts Forecast Growth

DEO has been the topic of several recent research reports. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Diageo currently has an average rating of “Hold”.

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.