Saratoga Research & Investment Management Sells 33,533 Shares of Diageo plc (NYSE:DEO)

Saratoga Research & Investment Management cut its holdings in Diageo plc (NYSE:DEO) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 333,433 shares of the company’s stock after selling 33,533 shares during the period. Diageo makes up approximately 2.1% of Saratoga Research & Investment Management’s portfolio, making the stock its 19th biggest position. Saratoga Research & Investment Management owned approximately 0.06% of Diageo worth $42,389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DEO. Brooklyn Investment Group acquired a new position in Diageo in the third quarter valued at approximately $25,000. CoreFirst Bank & Trust bought a new stake in shares of Diageo in the 4th quarter valued at $25,000. Eastern Bank lifted its position in shares of Diageo by 107.8% during the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares during the period. Modus Advisors LLC bought a new position in Diageo during the fourth quarter worth $35,000. Finally, Kestra Investment Management LLC acquired a new stake in Diageo in the fourth quarter worth $36,000. Institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of DEO opened at $105.25 on Monday. Diageo plc has a 52 week low of $103.95 and a 52 week high of $149.24. 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 50 day moving average price of $111.55 and a two-hundred day moving average price of $121.85. The firm has a market capitalization of $58.55 billion, a P/E ratio of 15.36, a P/E/G ratio of 2.39 and a beta of 0.65.

Diageo Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, TD Cowen upped 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Diageo has a consensus rating of “Hold” and a consensus price target 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.