Saratoga Research & Investment Management Decreases Stock Holdings in Diageo plc (NYSE:DEO)

Saratoga Research & Investment Management cut its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 333,433 shares of the company's stock after selling 33,533 shares during the period. Diageo accounts for approximately 2.1% of Saratoga Research & Investment Management's portfolio, making the stock its 19th largest holding. Saratoga Research & Investment Management owned approximately 0.06% of Diageo worth $42,389,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DEO. Brooklyn Investment Group purchased a new position in Diageo during the third quarter worth about $25,000. CoreFirst Bank & Trust bought a new stake in shares of Diageo during the 4th quarter valued at about $25,000. Eastern Bank grew its holdings in shares of Diageo by 107.8% during the fourth quarter. Eastern Bank now owns 241 shares of the company's stock worth $31,000 after purchasing an additional 125 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Diageo in the fourth quarter worth approximately $35,000. Finally, Kestra Investment Management LLC purchased a new stake in Diageo in the fourth quarter valued at approximately $36,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DEO shares. Berenberg Bank assumed coverage on shares of Diageo in a research note on Wednesday. They issued a "buy" rating for the company. Deutsche Bank Aktiengesellschaft raised Diageo from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. UBS Group raised Diageo from a "sell" rating to a "buy" rating in a research note on Wednesday, December 11th. Jefferies Financial Group upgraded Diageo from a "hold" rating to a "buy" rating in a research report on Thursday, December 5th. Finally, TD Cowen boosted 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 analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $129.00.

Remove Ads

Diageo Trading Down 3.0 %

Shares of NYSE:DEO traded down $3.19 on Friday, reaching $104.82. 1,797,928 shares of the company traded hands, compared to its average volume of 902,138. Diageo plc has a 52 week low of $103.70 and a 52 week high of $148.38. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The business's 50-day simple moving average is $110.53 and its 200 day simple moving average is $121.26. The stock has a market capitalization of $58.31 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63.

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 paid a $1.62 dividend. The ex-dividend date is Friday, February 28th. This represents a yield of 3.8%. Diageo's dividend payout ratio (DPR) is currently 46.42%.

Diageo Profile

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.