Tanager Wealth Management LLP Reduces Stake in Diageo plc $DEO

Tanager Wealth Management LLP trimmed its position in shares of Diageo plc (NYSE:DEO) by 47.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,507 shares of the company’s stock after selling 5,938 shares during the quarter. Tanager Wealth Management LLP’s holdings in Diageo were worth $523,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of Montreal Can boosted its position in shares of Diageo by 428.7% in the 4th quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock worth $187,469,000 after buying an additional 1,762,027 shares in the last quarter. Orbis Allan Gray Ltd raised its position in Diageo by 236.6% during the second quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock worth $116,772,000 after acquiring an additional 813,973 shares during the last quarter. Raymond James Financial Inc. raised its position in Diageo by 48.5% during the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock worth $162,410,000 after acquiring an additional 555,509 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in shares of Diageo in the fourth quarter valued at approximately $46,763,000. Finally, Altshuler Shaham Ltd acquired a new stake in shares of Diageo in the first quarter valued at approximately $37,225,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Performance

DEO opened at $89.19 on Monday. Diageo plc has a 12 month low of $72.45 and a 12 month high of $111.19. The business has a 50-day moving average of $88.10 and a two-hundred day moving average of $83.73. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.62 and a current ratio of 1.60.

Diageo Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research note on Friday, July 17th. UBS Group reiterated a “neutral” rating on shares of Diageo in a report on Thursday, August 27th. TD Cowen reissued a “buy” rating on shares of Diageo in a research report on Monday, August 10th. Zacks Research raised Diageo from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Loop Capital set a $99.00 price objective on Diageo in a research report on Thursday, June 18th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Diageo has a consensus rating of “Hold” and a consensus target price of $106.25.

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.