Diageo plc (NYSE:DEO) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. cut its holdings in Diageo plc (NYSE:DEO) by 16.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,456 shares of the company’s stock after selling 658 shares during the period. Essex Financial Services Inc.’s holdings in Diageo were worth $503,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DEO. Envestnet Asset Management Inc. lifted its stake in shares of Diageo by 26.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 659,034 shares of the company’s stock valued at $98,315,000 after purchasing an additional 138,406 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Diageo during the fourth quarter worth about $15,391,000. HS Management Partners LLC increased its position in shares of Diageo by 16.3% during the fourth quarter. HS Management Partners LLC now owns 706,205 shares of the company’s stock valued at $102,866,000 after acquiring an additional 98,819 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Diageo by 43.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 321,606 shares of the company’s stock valued at $47,977,000 after acquiring an additional 97,414 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Diageo in the 3rd quarter worth approximately $10,722,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Trading Up 0.6 %

DEO stock opened at $137.44 on Friday. The business’s 50-day moving average is $145.31 and its two-hundred day moving average is $145.73. The company has a quick ratio of 0.65, a current ratio of 1.58 and a debt-to-equity ratio of 1.73. Diageo plc has a 1 year low of $135.63 and a 1 year high of $188.23.

Diageo Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 1st were paid a dividend of $1.62 per share. The ex-dividend date was Thursday, February 29th. This represents a dividend yield of 2.7%.

Analyst Upgrades and Downgrades

Separately, BNP Paribas lowered Diageo from a “neutral” rating to an “underperform” rating in a research report on Friday, January 12th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3,797.50.

Diageo 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.