Saybrook Capital NC Sells 6,244 Shares of Diageo plc (NYSE:DEO)

Saybrook Capital NC cut its holdings in Diageo plc (NYSE:DEO - Free Report) by 13.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,444 shares of the company's stock after selling 6,244 shares during the quarter. Diageo makes up 1.3% of Saybrook Capital NC's holdings, making the stock its 19th biggest holding. Saybrook Capital NC's holdings in Diageo were worth $5,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canoe Financial LP grew its stake in shares of Diageo by 88,407.3% during the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company's stock worth $1,031,465,000 after buying an additional 8,104,301 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Diageo during the 4th quarter valued at $123,892,000. Natixis Advisors LLC grew its position in Diageo by 105.7% during the 3rd quarter. Natixis Advisors LLC now owns 949,411 shares of the company's stock worth $133,240,000 after acquiring an additional 487,904 shares during the last quarter. FMR LLC increased its holdings in Diageo by 9.1% in the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company's stock worth $735,671,000 after purchasing an additional 437,646 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new position in Diageo in the 4th quarter worth about $37,777,000. Institutional investors own 8.97% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DEO shares. UBS Group upgraded Diageo from a "sell" rating to a "buy" rating in a report on Wednesday, December 11th. TD Cowen boosted their target price on shares of Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a report on Wednesday, January 8th. Jefferies Financial Group raised shares of Diageo from a "hold" rating to a "buy" rating in a research note on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. 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 company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $129.00.

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Diageo Trading Down 1.9 %

Shares of DEO stock traded down $2.08 during trading hours on Wednesday, hitting $108.32. 699,307 shares of the company's stock traded hands, compared to its average volume of 841,698. The stock's 50 day simple moving average is $114.90 and its 200 day simple moving average is $123.90. The stock has a market cap of $60.26 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. Diageo plc has a 12 month low of $105.72 and a 12 month high of $151.76. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

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

Diageo Company 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.