Apollon Wealth Management LLC Decreases Stock Position in Diageo plc (NYSE:DEO)

Apollon Wealth Management LLC cut its holdings in Diageo plc (NYSE:DEO) by 10.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,731 shares of the company’s stock after selling 697 shares during the quarter. Apollon Wealth Management LLC’s holdings in Diageo were worth $804,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Beacon Capital Management LLC raised its stake in shares of Diageo by 777.3% in the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after purchasing an additional 171 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Diageo in the second quarter worth about $25,000. Triad Wealth Partners LLC purchased a new position in shares of Diageo in the second quarter worth about $25,000. Concord Wealth Partners purchased a new position in shares of Diageo in the third quarter worth about $38,000. Finally, Bruce G. Allen Investments LLC raised its stake in shares of Diageo by 1,395.0% in the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock worth $42,000 after purchasing an additional 279 shares during the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Down 1.4 %

Shares of DEO stock opened at $118.15 on Friday. The stock has a 50 day moving average of $131.74 and a 200 day moving average of $131.95. 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 twelve month low of $117.84 and a twelve month high of $154.71.

Analyst Ratings Changes

DEO has been the subject of several research analyst reports. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

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.