Diageo plc (NYSE:DEO) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC cut its stake in Diageo plc (NYSE:DEO) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,469 shares of the company’s stock after selling 500 shares during the period. Carret Asset Management LLC’s holdings in Diageo were worth $214,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DEO. Envestnet Asset Management Inc. boosted its holdings in Diageo by 26.6% in the third quarter. Envestnet Asset Management Inc. now owns 659,034 shares of the company’s stock valued at $98,315,000 after purchasing an additional 138,406 shares during the period. International Assets Investment Management LLC purchased a new position in Diageo in the fourth quarter valued at $15,391,000. HS Management Partners LLC boosted its holdings in Diageo by 16.3% in the fourth quarter. HS Management Partners LLC now owns 706,205 shares of the company’s stock valued at $102,866,000 after purchasing an additional 98,819 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Diageo by 43.5% in the third quarter. The Manufacturers Life Insurance Company now owns 321,606 shares of the company’s stock valued at $47,977,000 after purchasing an additional 97,414 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in Diageo in the third quarter valued at $10,722,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Performance

Shares of Diageo stock traded down $2.38 on Thursday, hitting $138.00. The stock had a trading volume of 318,705 shares, compared to its average volume of 802,862. Diageo plc has a 52-week low of $135.63 and a 52-week high of $189.54. The company has a quick ratio of 0.65, a current ratio of 1.58 and a debt-to-equity ratio of 1.73. The company’s 50 day moving average price is $146.64 and its 200 day moving average price is $146.27.

Diageo Cuts Dividend

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

Analyst Ratings Changes

A number of analysts have issued reports on the company. BNP Paribas downgraded Diageo from a “neutral” rating to an “underperform” rating in a report on Friday, January 12th. Argus downgraded Diageo from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, Diageo currently has an average rating of “Hold” and a consensus price target of $3,797.50.

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.