Diageo plc (NYSE:DEO) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC reduced its holdings in Diageo plc (NYSE:DEO) by 10.8% during the 3rd quarter, Holdings Channel reports. The firm owned 5,731 shares of the company’s stock after selling 697 shares during the quarter. Apollon Wealth Management LLC’s holdings in Diageo were worth $804,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Clearbridge Investments LLC grew its holdings in Diageo by 7.0% in the first quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock valued at $349,785,000 after purchasing an additional 154,497 shares during the period. Markel Group Inc. boosted its stake in shares of Diageo by 0.5% in the second quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock worth $172,315,000 after acquiring an additional 6,300 shares during the last quarter. Confluence Investment Management LLC boosted its stake in shares of Diageo by 30.5% in the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after acquiring an additional 284,046 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Diageo by 7.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock worth $142,165,000 after acquiring an additional 74,745 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Diageo by 2.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock worth $139,504,000 after buying an additional 23,435 shares during the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Diageo Price Performance

Shares of DEO stock opened at $118.15 on Friday. The stock has a 50 day simple moving average of $131.74 and a 200-day simple moving average of $131.95. Diageo plc has a 12-month low of $117.84 and a 12-month high of $154.71. 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 Company 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.