Baker Tilly Wealth Management LLC Reduces Position in Diageo plc (NYSE:DEO)

Baker Tilly Wealth Management LLC trimmed its holdings in Diageo plc (NYSE:DEO) by 2.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,738 shares of the company’s stock after selling 93 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Diageo were worth $475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DEO. Brooklyn Investment Group purchased a new position in shares of Diageo during the 3rd quarter worth $25,000. Modus Advisors LLC acquired a new stake in Diageo during the fourth quarter worth about $35,000. Concord Wealth Partners purchased a new position in Diageo during the third quarter worth about $38,000. Bruce G. Allen Investments LLC boosted its holdings in Diageo by 1,395.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock valued at $42,000 after purchasing an additional 279 shares during the last quarter. Finally, Davis Capital Management purchased a new stake in shares of Diageo in the 3rd quarter valued at approximately $55,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Down 5.7 %

Diageo stock opened at $118.30 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. The firm has a 50 day moving average price of $123.10 and a 200 day moving average price of $128.27. Diageo plc has a fifty-two week low of $117.72 and a fifty-two week high of $154.71. The company has a market capitalization of $65.81 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 3.73 and a beta of 0.67.

Analysts Set New Price Targets

DEO has been the topic of several analyst reports. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. TD Cowen lifted their target price on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, UBS Group upgraded 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 issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Diageo has an average rating of “Hold” and an average target price of $129.00.

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.