Wealth Enhancement Advisory Services LLC Reduces Position in Diageo plc $DEO

Wealth Enhancement Advisory Services LLC decreased its holdings in Diageo plc (NYSE:DEO) by 39.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,048 shares of the company’s stock after selling 57,668 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Diageo were worth $7,832,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Diageo by 72,871.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock valued at $158,133,000 after buying an additional 1,566,013 shares during the last quarter. Equity Investment Corp acquired a new stake in Diageo in the third quarter valued at $92,970,000. Orbis Allan Gray Ltd boosted its stake in Diageo by 236.6% during the 2nd quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock valued at $116,772,000 after acquiring an additional 813,973 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Diageo by 353.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 717,740 shares of the company’s stock worth $72,377,000 after acquiring an additional 559,547 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in Diageo by 48.5% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Price Performance

DEO opened at $74.02 on Friday. Diageo plc has a 12 month low of $72.45 and a 12 month high of $116.69. The stock’s 50 day moving average price is $87.71 and its 200 day moving average price is $90.93. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60.

Diageo Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, April 17th will be paid a dividend of $0.80 per share. This represents a dividend yield of 207.0%. The ex-dividend date is Friday, April 17th.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DEO shares. HSBC cut shares of Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Argus raised shares of Diageo to a “hold” rating in a report on Tuesday, March 10th. Zacks Research raised shares of Diageo from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research note on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Diageo in a research note on Friday, November 28th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $116.50.

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.