Jennison Associates LLC Cuts Holdings in Diageo plc (NYSE:DEO)

Posted by Defense World Staff on Jul 16th, 2023

Jennison Associates LLC trimmed its holdings in shares of Diageo plc (NYSE:DEO – Free Report) by 24.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,355 shares of the company’s stock after selling 9,376 shares during the period. Jennison Associates LLC’s holdings in Diageo were worth $5,319,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DEO. Morgan Stanley boosted its stake in shares of Diageo by 13.2% during the 4th quarter. Morgan Stanley now owns 3,725,502 shares of the company’s stock worth $663,848,000 after acquiring an additional 433,105 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Diageo by 98,968.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,023,969 shares of the company’s stock worth $360,651,000 after acquiring an additional 2,021,926 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Diageo by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,014,141 shares of the company’s stock worth $342,729,000 after acquiring an additional 70,613 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Diageo by 22.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,519,860 shares of the company’s stock worth $270,824,000 after purchasing an additional 275,377 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Diageo by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 793,005 shares of the company’s stock worth $141,307,000 after purchasing an additional 22,149 shares during the last quarter. 9.72% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Performance

Shares of Diageo stock opened at $177.53 on Friday. The business’s fifty day moving average price is $173.62 and its 200 day moving average price is $177.23. The company has a current ratio of 1.57, a quick ratio of 0.78 and a debt-to-equity ratio of 1.63. Diageo plc has a twelve month low of $160.09 and a twelve month high of $194.04.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DEO shares. Credit Suisse Group lowered their target price on Diageo from GBX 4,200 ($54.03) to GBX 3,850 ($49.53) in a report on Wednesday, June 7th. StockNews.com downgraded shares of Diageo from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. JPMorgan Chase & Co. decreased their price target on shares of Diageo from GBX 4,500 ($57.89) to GBX 4,000 ($51.46) in a research note on Tuesday, June 20th. The Goldman Sachs Group cut shares of Diageo from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 14th. Finally, Barclays reduced their price target on Diageo from GBX 4,890 ($62.91) to GBX 4,720 ($60.72) in a research note on Thursday, June 15th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $3,908.89.

Diageo Company Profile

(Free Report)

Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages. The company offers scotch, whisky, gin, vodka, rum, ready to drink products, raki, liqueur, wine, tequila, Canadian whisky, American whiskey, cachaca, and brandy, as well as beer, including cider and non-alcoholic products.

Jennison Associates LLC Cuts Holdings in Diageo plc (NYSE:DEO)

Diageo Stock Performance

Wall Street Analyst Weigh In

Diageo Company Profile

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