Diageo plc $DEO Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. trimmed its stake in Diageo plc (NYSE:DEO) by 67.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,677 shares of the company’s stock after selling 5,666 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Diageo were worth $215,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can grew its position in shares of Diageo by 428.7% during the fourth quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock worth $187,469,000 after acquiring an additional 1,762,027 shares during the last quarter. Orbis Allan Gray Ltd lifted its position in Diageo by 236.6% in the 2nd quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock valued at $116,772,000 after purchasing an additional 813,973 shares during the last quarter. Raymond James Financial Inc. boosted its stake in Diageo by 48.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock valued at $162,410,000 after purchasing an additional 555,509 shares during the period. Brandywine Global Investment Management LLC acquired a new position in Diageo during the 4th quarter valued at about $46,763,000. Finally, Altshuler Shaham Ltd bought a new position in Diageo in the 1st quarter worth about $37,225,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DEO shares. TD Cowen restated a “buy” rating on shares of Diageo in a research note on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research note on Friday, July 17th. Loop Capital set a $99.00 price target on Diageo in a research report on Thursday, June 18th. Zacks Research upgraded Diageo from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Diageo in a research note on Thursday, August 27th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $106.25.

Diageo Price Performance

DEO stock opened at $89.19 on Tuesday. Diageo plc has a 12 month low of $72.45 and a 12 month high of $111.19. The firm has a 50 day simple moving average of $88.22 and a 200 day simple moving average of $83.68. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.62.

Diageo Announces Dividend

The business also recently declared a dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, October 16th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a dividend yield of 252.0%.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.