Cerity Partners LLC Has $6.03 Million Position in Diageo plc (NYSE:DEO)

Cerity Partners LLC trimmed its stake in Diageo plc (NYSE:DEO - Free Report) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,226 shares of the company's stock after selling 6,817 shares during the period. Cerity Partners LLC's holdings in Diageo were worth $6,031,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DEO. Charles Schwab Investment Management Inc. raised its holdings in shares of Diageo by 84.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 33,754 shares of the company's stock valued at $4,737,000 after buying an additional 15,487 shares during the last quarter. Morse Asset Management Inc acquired a new position in shares of Diageo during the third quarter worth approximately $95,000. EP Wealth Advisors LLC lifted its position in shares of Diageo by 20.0% during the third quarter. EP Wealth Advisors LLC now owns 2,546 shares of the company's stock worth $357,000 after purchasing an additional 425 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Diageo by 10.3% during the third quarter. Coldstream Capital Management Inc. now owns 3,769 shares of the company's stock valued at $525,000 after purchasing an additional 353 shares during the last quarter. Finally, Anchor Investment Management LLC increased its holdings in shares of Diageo by 71.7% in the third quarter. Anchor Investment Management LLC now owns 1,533 shares of the company's stock valued at $215,000 after purchasing an additional 640 shares in the last quarter. 8.97% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of analysts recently commented on DEO shares. Deutsche Bank Aktiengesellschaft upgraded Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Berenberg Bank began coverage on shares of Diageo in a research note on Wednesday, April 2nd. They set a "buy" rating for the company. Finally, TD Cowen raised their price objective on shares of Diageo from $124.00 to $129.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $129.00.

Diageo Stock Performance

DEO stock traded down $3.03 during mid-day trading on Tuesday, hitting $107.57. 774,623 shares of the company were exchanged, compared to its average volume of 929,781. Diageo plc has a 1-year low of $100.72 and a 1-year high of $144.27. The stock has a market capitalization of $59.84 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63. The business has a 50 day simple moving average of $107.95 and a 200-day simple moving average of $119.29. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.62 per share. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, February 28th. Diageo's dividend payout ratio is currently 46.42%.

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.