Diageo plc $DEO Stock: Lazari Capital Management Inc. Trims Position

Lazari Capital Management Inc. lowered its stake in shares of Diageo plc (NYSE:DEO) by 57.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,720 shares of the company’s stock after selling 6,300 shares during the period. Lazari Capital Management Inc.’s holdings in Diageo were worth $404,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DEO. Altshuler Shaham Ltd acquired a new position in shares of Diageo during the 1st quarter valued at about $37,225,000. Dimensional Fund Advisors LP increased its position in Diageo by 53.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company’s stock worth $102,124,000 after purchasing an additional 477,999 shares during the last quarter. BROOKFIELD Corp ON acquired a new stake in Diageo during the first quarter worth about $22,274,000. Bank of America Corp DE raised its stake in Diageo by 3.7% during the first quarter. Bank of America Corp DE now owns 2,913,707 shares of the company’s stock worth $216,925,000 after purchasing an additional 103,531 shares during the period. Finally, Gabelli Funds LLC raised its stake in Diageo by 15.7% during the first quarter. Gabelli Funds LLC now owns 659,821 shares of the company’s stock worth $49,124,000 after purchasing an additional 89,771 shares during the period. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Trading Up 0.1%

Shares of NYSE DEO traded up $0.13 during mid-day trading on Tuesday, reaching $93.62. 396,420 shares of the company’s stock were exchanged, compared to its average volume of 1,456,267. The company’s 50-day moving average is $89.55 and its 200-day moving average is $84.80. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.62 and a current ratio of 1.60. Diageo plc has a 52-week low of $72.45 and a 52-week high of $102.74.

Diageo Announces Dividend

The business also recently announced a dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, October 16th will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a yield of 252.0%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DEO. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research note on Thursday. TD Cowen restated a “buy” rating on shares of Diageo in a report on Monday, August 10th. Zacks Research raised shares of Diageo from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, UBS Group reiterated a “neutral” rating on shares of Diageo in a report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Diageo Profile

Diageo plc is a global beverage-alcohol company headquartered in London, England. It develops, produces, markets and distributes spirits, beer and ready-to-drink beverages through a portfolio of well-known international and regional brands.

Its brands include Johnnie Walker, Crown Royal and Bulleit whiskies; Smirnoff, Cîroc and Ketel One vodkas; Captain Morgan rum; Don Julio and Casamigos tequila; Tanqueray gin; Baileys liqueur; and Guinness stout. The company sells products through retail, hospitality and e-commerce channels, serving consumers in markets across North America, Europe, Asia-Pacific, Latin America, Africa and other regions.

Diageo was formed in 1997 through the merger of Grand Metropolitan and Guinness.