Foresight Global Investors Inc. Trims Stock Position in Diageo plc (NYSE:DEO)

Foresight Global Investors Inc. cut its holdings in Diageo plc (NYSE:DEO) by 74.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,663 shares of the company’s stock after selling 72,405 shares during the quarter. Diageo makes up about 2.1% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 11th largest position. Foresight Global Investors Inc.’s holdings in Diageo were worth $3,592,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Meridian Wealth Advisors LLC raised its stake in Diageo by 0.8% in the 4th quarter. Meridian Wealth Advisors LLC now owns 19,891 shares of the company’s stock worth $2,897,000 after acquiring an additional 156 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Diageo by 6.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,161,648 shares of the company’s stock valued at $301,886,000 after purchasing an additional 137,397 shares in the last quarter. Apollon Wealth Management LLC increased its stake in shares of Diageo by 119.7% in the 4th quarter. Apollon Wealth Management LLC now owns 9,127 shares of the company’s stock worth $1,329,000 after acquiring an additional 4,972 shares during the last quarter. Lincoln National Corp raised its stake in Diageo by 18.1% during the fourth quarter. Lincoln National Corp now owns 2,597 shares of the company’s stock worth $378,000 after purchasing an additional 398 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in Diageo by 3.3% in the fourth quarter. Private Advisor Group LLC now owns 14,621 shares of the company’s stock valued at $2,129,000 after acquiring an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Trading Up 1.4 %

Shares of NYSE:DEO traded up $1.93 during mid-day trading on Thursday, hitting $142.84. 566,203 shares of the company traded hands, compared to its average volume of 789,448. The firm’s 50 day simple moving average is $144.15 and its 200 day simple moving average is $145.28. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.65 and a current ratio of 1.58. Diageo plc has a 52-week low of $135.63 and a 52-week high of $184.93.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas cut Diageo from a “neutral” rating to an “underperform” rating in a research note on Friday, January 12th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Diageo has a consensus rating of “Hold” and an average price target of $3,797.50.

Diageo Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.