Legacy Capital Wealth Partners LLC Reduces Stock Position in Diageo plc (NYSE:DEO)

Legacy Capital Wealth Partners LLC decreased its position in Diageo plc (NYSE:DEO) by 59.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,300 shares of the company’s stock after selling 3,342 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Diageo were worth $292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Citigroup Inc. boosted its holdings in Diageo by 4.4% in the third quarter. Citigroup Inc. now owns 158,428 shares of the company’s stock valued at $22,234,000 after acquiring an additional 6,617 shares in the last quarter. Canoe Financial LP lifted its position in shares of Diageo by 88,407.3% in the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after purchasing an additional 8,104,301 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Diageo by 32.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 65,894 shares of the company’s stock valued at $9,248,000 after purchasing an additional 16,285 shares in the last quarter. FMR LLC increased its position in shares of Diageo by 9.1% during the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after buying an additional 437,646 shares during the period. Finally, Tevis Investment Management increased its position in shares of Diageo by 159.7% during the fourth quarter. Tevis Investment Management now owns 13,869 shares of the company’s stock valued at $1,763,000 after buying an additional 8,528 shares during the period. 8.97% of the stock is owned by institutional investors.

Diageo Stock Down 1.8 %

DEO stock opened at $107.45 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. The firm has a 50 day moving average price of $121.08 and a 200-day moving average price of $126.00. Diageo plc has a 52-week low of $105.72 and a 52-week high of $154.71.

Diageo Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be paid a $1.62 dividend. This represents a yield of 3.8%. The ex-dividend date of this dividend is Friday, February 28th.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. TD Cowen upped their price target on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Finally, UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $129.00.

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.