Cullinan Associates Inc. Trims Stock Position in Diageo plc (NYSE:DEO)

Cullinan Associates Inc. lessened its stake in shares of Diageo plc (NYSE:DEO) by 27.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,100 shares of the company’s stock after selling 1,200 shares during the quarter. Cullinan Associates Inc.’s holdings in Diageo were worth $394,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Diageo in the 3rd quarter valued at $25,000. Eastern Bank increased its holdings in shares of Diageo by 107.8% in the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares during the period. Modus Advisors LLC acquired a new position in shares of Diageo in the 4th quarter valued at $35,000. Concord Wealth Partners acquired a new position in shares of Diageo in the 3rd quarter valued at $38,000. Finally, Bruce G. Allen Investments LLC increased its stake 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 buying an additional 279 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of DEO opened at $116.08 on Wednesday. The company has a 50-day simple moving average of $122.86 and a 200-day simple moving average of $127.21. 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 52-week low of $113.99 and a 52-week high of $154.71.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DEO shares. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Finally, TD Cowen boosted their price objective on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. One equities research analyst has 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. Based on data from MarketBeat.com, Diageo currently has a consensus rating of “Hold” and a consensus target price of $129.00.

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.