Diageo plc (NYSE:DEO) Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC reduced its holdings in Diageo plc (NYSE:DEO) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,174 shares of the company’s stock after selling 619 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Diageo were worth $658,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Canoe Financial LP lifted its holdings in shares of Diageo by 88,407.3% in the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after buying an additional 8,104,301 shares during the period. FMR LLC lifted its holdings in shares of Diageo by 9.1% in the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after buying an additional 437,646 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Diageo by 13.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock valued at $176,042,000 after buying an additional 147,920 shares during the period. JPMorgan Chase & Co. raised its holdings in Diageo by 25.9% during the third quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock worth $156,759,000 after purchasing an additional 229,946 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Diageo by 6.9% during the third quarter. Wellington Management Group LLP now owns 991,459 shares of the company’s stock worth $139,141,000 after purchasing an additional 64,367 shares during the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Performance

Diageo stock opened at $110.44 on Wednesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. The stock has a fifty day moving average of $115.28 and a two-hundred day moving average of $124.01. The company has a market capitalization of $61.43 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 2.39 and a beta of 0.65. Diageo plc has a fifty-two week low of $105.72 and a fifty-two week high of $151.76.

Diageo Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be given a dividend of $1.62 per share. This represents a yield of 3.8%. The ex-dividend date is Friday, February 28th. Diageo’s payout ratio is 46.42%.

Wall Street Analyst Weigh In

DEO has been the subject of several research reports. TD Cowen lifted their price objective on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. UBS Group raised Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $129.00.

About Diageo

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.