Narwhal Capital Management Sells 7,888 Shares of Diageo plc (NYSE:DEO)

Narwhal Capital Management reduced its stake in Diageo plc (NYSE:DEO) by 44.9% during the 4th quarter, HoldingsChannel reports. The firm owned 9,697 shares of the company’s stock after selling 7,888 shares during the quarter. Narwhal Capital Management’s holdings in Diageo were worth $1,233,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DEO. Brooklyn Investment Group bought a new stake in Diageo in the third quarter valued at $25,000. Eastern Bank boosted its stake 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 purchasing an additional 125 shares in the last quarter. Modus Advisors LLC bought a new stake in shares of Diageo in the 4th quarter worth about $35,000. Concord Wealth Partners bought a new position in Diageo during the 3rd quarter valued at about $38,000. Finally, Bruce G. Allen Investments LLC boosted its position in Diageo by 1,395.0% in the third 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 in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Price Performance

Shares of NYSE DEO opened at $124.53 on Monday. Diageo plc has a 1-year low of $113.99 and a 1-year high of $154.71. The company has a 50-day moving average of $122.62 and a two-hundred day moving average of $127.61. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62.

Analysts Set New Price Targets

DEO has been the subject of several recent analyst reports. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Finally, TD Cowen boosted their price objective on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. One 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $129.00.

About Diageo

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.