Diageo plc (NYSE:DEO) Stock Position Reduced by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its position in Diageo plc (NYSE:DEO) by 40.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,951 shares of the company’s stock after selling 3,338 shares during the quarter. Ritholtz Wealth Management’s holdings in Diageo were worth $695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Clearbridge Investments LLC raised its holdings in shares of Diageo by 7.0% during the first quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock worth $349,785,000 after purchasing an additional 154,497 shares during the period. Markel Group Inc. grew its position in shares of Diageo by 0.5% during the 2nd quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock valued at $172,315,000 after buying an additional 6,300 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Diageo by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock worth $142,165,000 after acquiring an additional 74,745 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Diageo by 2.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock worth $139,504,000 after acquiring an additional 23,435 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its stake in Diageo by 10.5% in the second quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock valued at $117,474,000 after acquiring an additional 88,159 shares during the period. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Price Performance

Diageo stock opened at $134.60 on Wednesday. Diageo plc has a 12-month low of $119.48 and a 12-month high of $161.64. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. The firm has a 50 day simple moving average of $132.42 and a 200-day simple moving average of $133.95.

Diageo Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, August 30th will be paid a dividend of $1.62 per share. This represents a yield of 3.2%. The ex-dividend date is Friday, August 30th.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Finally, Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.