Ervin Investment Management LLC Sells 320 Shares of Diageo plc (NYSE:DEO)

Ervin Investment Management LLC lessened its stake in Diageo plc (NYSE:DEO) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,351 shares of the company’s stock after selling 320 shares during the period. Diageo comprises 0.5% of Ervin Investment Management LLC’s portfolio, making the stock its 25th biggest holding. Ervin Investment Management LLC’s holdings in Diageo were worth $807,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in Diageo in the 3rd quarter valued at $25,000. Eastern Bank increased its stake in Diageo by 107.8% in the fourth 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 Diageo in the fourth quarter worth about $35,000. Concord Wealth Partners bought a new position in Diageo during the third quarter worth about $38,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in Diageo by 1,395.0% during the third 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 in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Trading Up 1.2 %

Shares of DEO stock opened at $118.75 on Monday. 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 12-month low of $113.99 and a 12-month high of $154.71. The firm has a fifty day moving average of $122.58 and a 200-day moving average of $127.90.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DEO shares. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. TD Cowen raised their price target on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Finally, UBS Group raised Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.