CIBC Asset Management Inc trimmed its stake in shares of Diageo plc (NYSE:DEO) by 7.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,640 shares of the company’s stock after selling 565 shares during the quarter. CIBC Asset Management Inc’s holdings in Diageo were worth $941,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in DEO. TRUE Private Wealth Advisors acquired a new position in shares of Diageo in the 3rd quarter worth approximately $105,000. NumerixS Investment Technologies Inc acquired a new position in shares of Diageo in the 2nd quarter worth approximately $115,000. Centaurus Financial Inc. acquired a new position in shares of Diageo in the 2nd quarter worth approximately $123,000. Westbourne Investment Advisors Inc. acquired a new position in shares of Diageo in the 3rd quarter worth approximately $142,000. Finally, Massey Quick Simon & CO. LLC grew its stake in shares of Diageo by 1,212.0% in the 2nd quarter. Massey Quick Simon & CO. LLC now owns 1,312 shares of the company’s stock worth $188,000 after purchasing an additional 1,212 shares during the last quarter. Institutional investors own 11.32% of the company’s stock.
Separately, Zacks Investment Research raised shares of Diageo from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $158.40.
Shares of DEO opened at $142.33 on Friday. The company has a market capitalization of $87.88 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.63 and a beta of 0.62. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.58 and a current ratio of 1.37. Diageo plc has a 12-month low of $131.22 and a 12-month high of $151.30.
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Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.
Further Reading: Book Value Per Share – BVPS
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