Diageo plc (NYSE:DEO) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. trimmed its holdings in Diageo plc (NYSE:DEO) by 27.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,100 shares of the company’s stock after selling 1,200 shares during the period. Cullinan Associates Inc.’s holdings in Diageo were worth $394,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC grew its stake in Diageo by 1.1% in the 3rd quarter. Global Retirement Partners LLC now owns 8,146 shares of the company’s stock valued at $1,143,000 after acquiring an additional 85 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its stake in shares of Diageo by 2.6% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,383 shares of the company’s stock worth $430,000 after purchasing an additional 86 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Diageo by 5.6% during the 4th quarter. Diversified Trust Co now owns 1,855 shares of the company’s stock worth $236,000 after purchasing an additional 98 shares during the last quarter. Malaga Cove Capital LLC boosted its stake in shares of Diageo by 3.4% during the 3rd quarter. Malaga Cove Capital LLC now owns 3,001 shares of the company’s stock worth $421,000 after purchasing an additional 100 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Diageo by 1.5% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 7,218 shares of the company’s stock worth $918,000 after purchasing an additional 105 shares during the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Price Performance

DEO opened at $116.08 on Wednesday. The company’s 50 day simple moving average is $122.86 and its 200 day simple moving average is $127.21. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. Diageo plc has a 1 year low of $113.99 and a 1 year high of $154.71.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Finally, TD Cowen raised their price target on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $129.00.

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.