Naviter Wealth LLC Reduces Stock Position in Diageo plc (NYSE:DEO)

Naviter Wealth LLC cut its stake in Diageo plc (NYSE:DEO) by 2.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,076 shares of the company’s stock after selling 235 shares during the quarter. Naviter Wealth LLC’s holdings in Diageo were worth $1,176,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its stake in Diageo by 26.6% during the third quarter. Envestnet Asset Management Inc. now owns 659,034 shares of the company’s stock valued at $98,315,000 after acquiring an additional 138,406 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Diageo in the fourth quarter worth $15,391,000. HS Management Partners LLC raised its position in shares of Diageo by 16.3% in the fourth quarter. HS Management Partners LLC now owns 706,205 shares of the company’s stock worth $102,866,000 after buying an additional 98,819 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Diageo by 43.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 321,606 shares of the company’s stock valued at $47,977,000 after acquiring an additional 97,414 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Diageo in the third quarter worth approximately $10,722,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Price Performance

NYSE:DEO opened at $139.68 on Tuesday. Diageo plc has a 52 week low of $135.63 and a 52 week high of $188.23. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73. The company has a fifty day moving average of $146.14 and a 200 day moving average of $145.94.

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 dividend of $1.62 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a dividend yield of 2.7%.

Wall Street Analyst Weigh In

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

Diageo 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.