Diageo plc (NYSE:DEO) Stake Cut by 44 Wealth Management LLC

44 Wealth Management LLC cut its position in shares of Diageo plc (NYSE:DEO) by 23.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,965 shares of the company’s stock after selling 603 shares during the quarter. 44 Wealth Management LLC’s holdings in Diageo were worth $250,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC UT increased its position in Diageo by 2.6% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,383 shares of the company’s stock worth $430,000 after buying an additional 86 shares during the period. Savant Capital LLC increased its position in Diageo by 5.0% in the fourth quarter. Savant Capital LLC now owns 1,864 shares of the company’s stock worth $237,000 after buying an additional 88 shares during the period. Diversified Trust Co increased its position in Diageo by 5.6% in the fourth quarter. Diversified Trust Co now owns 1,855 shares of the company’s stock worth $236,000 after buying an additional 98 shares during the period. Malaga Cove Capital LLC increased its position in Diageo by 3.4% in the third quarter. Malaga Cove Capital LLC now owns 3,001 shares of the company’s stock worth $421,000 after buying an additional 100 shares during the period. Finally, Cromwell Holdings LLC increased its position in Diageo by 8.6% in the fourth quarter. Cromwell Holdings LLC now owns 1,286 shares of the company’s stock worth $163,000 after buying an additional 102 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DEO. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. TD Cowen increased their target price on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Finally, UBS Group raised Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Diageo currently has an average rating of “Hold” and an average price target of $129.00.

Diageo Price Performance

Shares of DEO opened at $110.54 on Friday. The firm has a market capitalization of $61.49 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 2.39 and a beta of 0.66. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. Diageo plc has a one year low of $105.72 and a one year high of $154.71. The stock’s fifty day moving average is $119.17 and its 200-day moving average is $125.49.

Diageo Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.62 per share. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, February 28th. Diageo’s dividend payout ratio (DPR) is 73.28%.

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.