DAVENPORT & Co LLC Sells 16,321 Shares of Diageo plc (NYSE:DEO)

DAVENPORT & Co LLC reduced its stake in Diageo plc (NYSE:DEOFree Report) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 546,963 shares of the company’s stock after selling 16,321 shares during the quarter. DAVENPORT & Co LLC owned about 0.10% of Diageo worth $79,645,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in DEO. Compagnie Lombard Odier SCmA purchased a new stake in shares of Diageo during the 3rd quarter valued at about $27,000. Planned Solutions Inc. purchased a new position in shares of Diageo during the fourth quarter worth approximately $27,000. MCF Advisors LLC bought a new position in shares of Diageo during the third quarter valued at approximately $30,000. PCA Investment Advisory Services Inc. bought a new position in shares of Diageo during the second quarter valued at approximately $31,000. Finally, Pinnacle Holdings LLC bought a new position in shares of Diageo during the first quarter valued at approximately $33,000. 8.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DEO has been the subject of several research reports. UBS Group downgraded shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Tuesday, December 5th. Argus cut shares of Diageo from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, BNP Paribas lowered shares of Diageo from a “neutral” rating to an “underperform” rating in a research report on Friday, January 12th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, Diageo currently has an average rating of “Hold” and a consensus price target of $3,778.00.

Read Our Latest Stock Analysis on DEO

Diageo Stock Performance

Shares of DEO stock traded up $1.30 during mid-day trading on Tuesday, hitting $149.12. The stock had a trading volume of 413,788 shares, compared to its average volume of 801,311. Diageo plc has a fifty-two week low of $135.63 and a fifty-two week high of $190.02. The company has a quick ratio of 0.65, a current ratio of 1.58 and a debt-to-equity ratio of 1.73. The company’s 50-day simple moving average is $147.81 and its 200-day simple moving average is $147.52.

Diageo Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, April 17th. Investors of record on Friday, March 1st will be paid a $1.62 dividend. This represents a dividend yield of 2.7%. The ex-dividend date is Thursday, February 29th.

Diageo Company Profile

(Free Report)

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cacha├ža, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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