Saybrook Capital NC Cuts Stock Position in Diageo plc (NYSE:DEO)

Saybrook Capital NC cut its holdings in Diageo plc (NYSE:DEO) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,444 shares of the company’s stock after selling 6,244 shares during the quarter. Diageo accounts for approximately 1.3% of Saybrook Capital NC’s investment portfolio, making the stock its 19th largest position. Saybrook Capital NC’s holdings in Diageo were worth $5,015,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DEO. Brooklyn Investment Group purchased a new position in shares of Diageo in the third quarter valued at $25,000. Eastern Bank grew its holdings in shares of Diageo by 107.8% in the fourth 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 fourth quarter valued at $35,000. Kestra Investment Management LLC purchased a new position in Diageo during the fourth quarter worth $36,000. Finally, Heck Capital Advisors LLC purchased a new position in Diageo during the fourth quarter worth $47,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on DEO. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. TD Cowen lifted their price objective on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Stock Down 1.2 %

NYSE:DEO opened at $112.81 on Friday. Diageo plc has a twelve month low of $105.72 and a twelve month high of $151.76. The company has a market cap of $62.75 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. The stock has a fifty day simple moving average of $115.90 and a 200-day simple moving average of $124.37. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

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

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.