Commerce Bank Reduces Stock Position in Diageo plc (NYSE:DEO)

Commerce Bank cut its holdings in Diageo plc (NYSE:DEO) by 0.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 13,558 shares of the company’s stock after selling 106 shares during the period. Commerce Bank’s holdings in Diageo were worth $1,903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Russell Investments Group Ltd. grew its position in shares of Diageo by 42.7% in the first quarter. Russell Investments Group Ltd. now owns 1,136 shares of the company’s stock valued at $169,000 after purchasing an additional 340 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Diageo by 18.8% during the first quarter. Advisors Asset Management Inc. now owns 5,128 shares of the company’s stock valued at $763,000 after buying an additional 813 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Diageo by 0.9% in the first quarter. Toronto Dominion Bank now owns 9,949 shares of the company’s stock worth $1,480,000 after buying an additional 90 shares in the last quarter. Lazard Asset Management LLC grew its stake in Diageo by 0.9% during the first quarter. Lazard Asset Management LLC now owns 137,292 shares of the company’s stock valued at $20,420,000 after acquiring an additional 1,224 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Diageo by 2.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,870 shares of the company’s stock worth $10,988,000 after acquiring an additional 1,454 shares during the period. Institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

Shares of Diageo stock opened at $120.09 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. Diageo plc has a 1 year low of $117.72 and a 1 year high of $154.71. The company has a 50 day simple moving average of $130.48 and a two-hundred day simple moving average of $131.12.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold”.

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.