PDS Planning Inc Cuts Holdings in Diageo plc (NYSE:DEO)

PDS Planning Inc decreased its stake in Diageo plc (NYSE:DEO) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,852 shares of the company’s stock after selling 213 shares during the period. PDS Planning Inc’s holdings in Diageo were worth $270,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Clearbridge Investments LLC raised its position in Diageo by 0.4% in the third quarter. Clearbridge Investments LLC now owns 2,384,109 shares of the company’s stock worth $355,661,000 after acquiring an additional 10,269 shares during the period. Royal Bank of Canada increased its holdings in Diageo by 2.4% during the 3rd quarter. Royal Bank of Canada now owns 1,187,543 shares of the company’s stock worth $177,156,000 after acquiring an additional 27,851 shares during the period. HS Management Partners LLC increased its holdings in Diageo by 16.3% during the 4th quarter. HS Management Partners LLC now owns 706,205 shares of the company’s stock worth $102,866,000 after acquiring an additional 98,819 shares during the period. Envestnet Asset Management Inc. increased its holdings in Diageo by 26.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 659,034 shares of the company’s stock worth $98,315,000 after acquiring an additional 138,406 shares during the period. Finally, Raymond James & Associates grew its stake in Diageo by 2.8% in the 3rd quarter. Raymond James & Associates now owns 570,926 shares of the company’s stock worth $85,171,000 after buying an additional 15,543 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

DEO has been the subject of a number of research reports. Argus cut shares of Diageo from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. BNP Paribas cut shares of Diageo from a “neutral” rating to an “underperform” rating in a research note on Friday, January 12th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, Diageo currently has an average rating of “Hold” and an average price target of $3,797.50.

Diageo Stock Down 1.1 %

Shares of NYSE DEO opened at $140.50 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.65 and a current ratio of 1.58. Diageo plc has a 12 month low of $135.63 and a 12 month high of $190.02. The firm has a fifty day simple moving average of $146.74 and a two-hundred day simple moving average of $146.31.

Diageo Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 1st were paid a $1.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a dividend yield of 2.7%.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.