Diageo plc (NYSE:DEO) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in Diageo plc (NYSE:DEO) by 64.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,437 shares of the company’s stock after selling 55,817 shares during the period. M&T Bank Corp’s holdings in Diageo were worth $4,271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Diageo in the 3rd quarter worth $25,000. 1620 Investment Advisors Inc. acquired a new position in Diageo during the second quarter worth about $25,000. Triad Wealth Partners LLC bought a new stake in Diageo in the second quarter worth about $25,000. Concord Wealth Partners acquired a new stake in Diageo in the 3rd quarter valued at about $38,000. Finally, Bruce G. Allen Investments LLC lifted 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 acquiring an additional 279 shares during the last quarter. 8.97% of the stock is owned by institutional investors.

Diageo Stock Up 2.0 %

Diageo stock opened at $129.24 on Friday. 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 plc has a fifty-two week low of $117.72 and a fifty-two week high of $154.71. The firm’s 50 day simple moving average is $126.48 and its 200-day simple moving average is $129.30.

Wall Street Analyst Weigh In

DEO has been the topic of a number of research reports. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Finally, UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold”.

Diageo 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.