Diageo plc (NYSE:DEO) Shares Sold by Clearstead Trust LLC

Clearstead Trust LLC trimmed its holdings in shares of Diageo plc (NYSE:DEO) by 16.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500 shares of the company’s stock after selling 97 shares during the period. Clearstead Trust LLC’s holdings in Diageo were worth $73,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Stratos Wealth Partners LTD. boosted its position in shares of Diageo by 29.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 7,274 shares of the company’s stock worth $1,085,000 after purchasing an additional 1,652 shares in the last quarter. Stratos Wealth Advisors LLC grew its position in Diageo by 19.1% during the third quarter. Stratos Wealth Advisors LLC now owns 1,575 shares of the company’s stock worth $235,000 after buying an additional 253 shares during the period. J.W. Cole Advisors Inc. increased its holdings in Diageo by 10.0% in the third quarter. J.W. Cole Advisors Inc. now owns 2,138 shares of the company’s stock valued at $319,000 after buying an additional 194 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Diageo by 20.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 353,619 shares of the company’s stock valued at $52,753,000 after acquiring an additional 59,597 shares during the period. Finally, Verdence Capital Advisors LLC boosted its stake in shares of Diageo by 11.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 5,115 shares of the company’s stock worth $763,000 after acquiring an additional 514 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Trading Up 0.6 %

Shares of Diageo stock traded up $0.87 during trading on Friday, hitting $137.44. 683,538 shares of the company were exchanged, compared to its average volume of 826,219. Diageo plc has a fifty-two week low of $135.63 and a fifty-two week high of $188.23. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73. The firm has a 50 day moving average price of $145.01 and a 200 day moving average price of $145.52.

Diageo Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, March 1st were issued a $1.62 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a dividend yield of 2.7%.

Analysts Set New Price Targets

Separately, BNP Paribas cut Diageo from a “neutral” rating to an “underperform” rating in a 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. According to data from MarketBeat, Diageo presently has an average rating of “Hold” and a consensus price target of $3,797.50.

Diageo Company Profile

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, cachaça, 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.