Park Avenue Securities LLC, an institutional investor, has sold off 2,100 shares of Diageo plc (DEO:NYE) during the fourth quarter of the previous year, as per the latest filing with the Securities & Exchange Commission. The move resulted in a 24.5% reduction in its stake, leaving the firm with 6,478 shares of Diageo stock in the company worth $1.15 million, according to the same filing.
Hedge Funds & Institutional Holdings:
Other hedge funds and institutional investors have also made adjustments to their positions in Diageo. Wealthspire Advisors LLC increased its stake by 1.3% during the third quarter, while Avantax Advisory Services Inc. upped its holdings by 19.4%.
Meanwhile, Mission Wealth Management LP and Dynamic Advisor Solutions LLC increased their positions by 15.5% and 12.7%, respectively. Cullen Frost Bankers Inc. rounded out the changes with a 9.9% increase in its holdings.
Currently, hedge funds and other institutional investors own around 9.04% of Diageo stock.
DEO Stock-Analyst Ratings:
Several Wall Street analysts have recently weighed in on DEO shares. Credit Suisse Group reduced the price target of Diageo stock shares from GBX 4,500 ($55.89) to GBX 4,200 ($52.16), while UBS Group downgraded the stock from “buy” to “neutral.” On the other hand, Investec upgraded Diageo from “hold” to “buy,” and Sanford C. Bernstein raised the stock’s rating from “market perform” to “outperform.”
Diageo Stock PricePerformance:
DEO stock opened at $184.98 on Thursday, with a 50-day moving average of $175.09 and a 200-day moving average of $175.84. Diageo’s quick ratio stands at 0.78, while its current ratio is 1.57. The company’s debt-to-equity ratio is 1.63, and it has a 1-year low of $160.09 and a 1-year high of $212.33.
Overall, the company presently has an average rating of “Buy” with an average price target of $225.00, according to Stock Target Advisor.
Diageo Stock Dividend:
Diageo recently announced a semi-annual dividend that will be paid on April 18th, with stockholders of record on March 3rd being issued a dividend of $1.5187 per share.
This represents a positive change from the previous semi-annual dividend of $1.43, with the ex-dividend date of the new dividend set for March 2nd. The new dividend represents a dividend yield of 2.06%.
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.
It provides its products primarily under the Johnnie Walker, Guinness, Tanqueray, Baileys, Smirnoff, Captain Morgan, Crown Royal, Don Julio, Ciroc, Buchanan’s, Casamigos, J&B, and Ketel One brands. The company operates in North America, Europe, Turkey, Africa, Latin America, the Caribbean, the Asia Pacific, and internationally.
The company was incorporated in 1886 and is headquartered in London, the United Kingdom.