PNC Financial Services Group Inc. Has $10.86 Million Stock Position in Diageo plc (NYSE:DEO)

PNC Financial Services Group Inc. increased its stake in shares of Diageo plc (NYSE:DEO) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 77,391 shares of the company’s stock after buying an additional 4,459 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Diageo were worth $10,861,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC boosted its stake in shares of Diageo by 777.3% during the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after buying an additional 171 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in Diageo during the second quarter valued at $25,000. Triad Wealth Partners LLC purchased a new position in Diageo in the second quarter valued at about $25,000. Concord Wealth Partners acquired a new position in Diageo in the 3rd quarter worth about $38,000. Finally, Bruce G. Allen Investments LLC raised its stake in shares of Diageo by 1,395.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock worth $42,000 after purchasing an additional 279 shares in the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Price Performance

Shares of Diageo stock opened at $120.07 on Friday. Diageo plc has a 1-year low of $117.72 and a 1-year high of $154.71. The firm has a fifty day simple moving average of $130.48 and a 200-day simple moving average of $131.17. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $66.79 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 3.40 and a beta of 0.71.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DEO shares. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold”.

Diageo 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.