Cornerstone Wealth Management LLC reduced its position in Diageo plc (NYSE:DEO) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 153,847 shares of the company’s stock after selling 7,583 shares during the period. Cornerstone Wealth Management LLC’s holdings in Diageo were worth $1,151,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Stony Point Wealth Management Inc. raised its holdings in Diageo by 4.9% in the 3rd quarter. Stony Point Wealth Management Inc. now owns 7,810 shares of the company’s stock worth $1,106,000 after acquiring an additional 365 shares during the last quarter. American Financial Network Advisory Services LLC raised its holdings in Diageo by 9,480.0% in the 3rd quarter. American Financial Network Advisory Services LLC now owns 1,437 shares of the company’s stock worth $207,000 after acquiring an additional 1,422 shares during the last quarter. Westbourne Investment Advisors Inc. purchased a new position in Diageo in the 3rd quarter worth approximately $142,000. Randolph Co Inc raised its holdings in Diageo by 112.4% in the 3rd quarter. Randolph Co Inc now owns 133,868 shares of the company’s stock worth $18,965,000 after acquiring an additional 70,848 shares during the last quarter. Finally, TRUE Private Wealth Advisors purchased a new position in Diageo in the 3rd quarter worth approximately $105,000. Institutional investors own 11.28% of the company’s stock.
NYSE:DEO opened at $138.16 on Thursday. The company has a quick ratio of 0.58, a current ratio of 1.37 and a debt-to-equity ratio of 0.71. Diageo plc has a 12 month low of $131.22 and a 12 month high of $151.30. The company has a market capitalization of $85.89 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 2.55 and a beta of 0.63.
Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.
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