Rhumbline Advisers Cuts Position in Diageo plc (NYSE:DEO)

Rhumbline Advisers reduced its position in shares of Diageo plc (NYSE:DEO) by 24.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,484 shares of the company’s stock after selling 1,428 shares during the period. Rhumbline Advisers’ holdings in Diageo were worth $570,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group purchased a new position in Diageo in the third quarter valued at $25,000. Eastern Bank raised its position in Diageo by 107.8% in the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after purchasing an additional 125 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of Diageo in the 4th quarter valued at about $35,000. Heck Capital Advisors LLC acquired a new position in shares of Diageo during the fourth quarter worth about $47,000. Finally, Crews Bank & Trust purchased a new stake in shares of Diageo during the fourth quarter worth approximately $51,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Price Performance

Shares of NYSE DEO opened at $112.81 on Friday. The company’s fifty day moving average is $115.90 and its two-hundred day moving average is $124.40. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. The firm has a market capitalization of $62.75 billion, a P/E ratio of 16.47, a PEG ratio of 2.39 and a beta of 0.65. Diageo plc has a one year low of $105.72 and a one year high of $151.76.

Diageo Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Friday, February 28th will be paid a dividend of $1.62 per share. This represents a dividend yield of 3.8%. The ex-dividend date is Friday, February 28th. Diageo’s dividend payout ratio (DPR) is presently 46.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. TD Cowen upped their price objective on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $129.00.

About Diageo

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.