Park Avenue Securities LLC reduced its stake in shares of Diageo plc (NYSE:DEO – Get Rating) by 24.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,478 shares of the company’s stock after selling 2,100 shares during the period. Park Avenue Securities LLC’s holdings in Diageo were worth $1,154,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Wealthspire Advisors LLC boosted its holdings in Diageo by 1.3% in the third quarter. Wealthspire Advisors LLC now owns 8,439 shares of the company’s stock worth $1,433,000 after purchasing an additional 109 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in Diageo by 19.4% in the third quarter. Avantax Advisory Services Inc. now owns 6,961 shares of the company’s stock worth $1,182,000 after purchasing an additional 1,132 shares in the last quarter. Mission Wealth Management LP boosted its holdings in Diageo by 15.5% in the third quarter. Mission Wealth Management LP now owns 2,793 shares of the company’s stock worth $474,000 after purchasing an additional 375 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in Diageo by 12.7% in the third quarter. Dynamic Advisor Solutions LLC now owns 1,447 shares of the company’s stock worth $246,000 after purchasing an additional 163 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its holdings in Diageo by 9.9% in the third quarter. Cullen Frost Bankers Inc. now owns 5,699 shares of the company’s stock worth $968,000 after purchasing an additional 512 shares in the last quarter. 9.04% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on DEO shares. Credit Suisse Group decreased their price target on shares of Diageo from GBX 4,500 ($55.89) to GBX 4,200 ($52.16) in a report on Friday, January 27th. UBS Group cut shares of Diageo from a “buy” rating to a “neutral” rating in a report on Thursday, January 12th. Investec upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, January 31st. Morgan Stanley cut their price objective on shares of Diageo from GBX 3,900 ($48.44) to GBX 3,600 ($44.71) in a research report on Tuesday, January 31st. Finally, Sanford C. Bernstein raised shares of Diageo from a “market perform” rating to an “outperform” rating in a research report on Monday, February 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Diageo presently has an average rating of “Hold” and an average price target of $4,081.00.
Diageo Stock Performance
Diageo Increases Dividend
The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 18th. Stockholders of record on Friday, March 3rd will be issued a dividend of $1.5187 per share. This is a positive change from Diageo’s previous semi-annual dividend of $1.43. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a dividend yield of 2.06%.
Diageo Profile
Diageo Plc engages in the production and distribution of alcoholic beverages. Its brands include Johnnie Walker, Crown Royal, JeB, Buchanan’s, Windsor and Bushmills whiskies, Smirnoff, Ciroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray, and Guinness. It operates through the following geographical segments: North America; Europe and Turkey; Africa; Latin America and Caribbean; Asia Pacific; ISC; and Corporate and Other.
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