NewEdge Wealth LLC Sells 1,088 Shares of Diageo plc (NYSE:DEO)

NewEdge Wealth LLC reduced its stake in Diageo plc (NYSE:DEO) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,648 shares of the company’s stock after selling 1,088 shares during the quarter. NewEdge Wealth LLC’s holdings in Diageo were worth $2,625,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in Diageo in the 3rd quarter valued at about $25,000. Eastern Bank raised its holdings 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 acquiring an additional 125 shares during the period. Modus Advisors LLC bought a new position in Diageo in the 4th quarter valued at about $35,000. Kestra Investment Management LLC bought a new position in Diageo in the 4th quarter valued at about $36,000. Finally, Heck Capital Advisors LLC bought a new position in Diageo in the 4th quarter valued at about $47,000. 8.97% of the stock is owned by institutional investors.

Diageo Stock Performance

Shares of Diageo stock opened at $108.83 on Friday. Diageo plc has a fifty-two week low of $105.72 and a fifty-two week high of $151.76. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The firm has a market capitalization of $60.54 billion, a P/E ratio of 15.89, a P/E/G ratio of 2.39 and a beta of 0.66. The company’s 50 day moving average price is $117.39 and its two-hundred day moving average price is $125.00.

Diageo Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be given a $1.62 dividend. The ex-dividend date is Friday, February 28th. This represents a yield of 3.8%. Diageo’s dividend payout ratio is currently 46.42%.

Wall Street Analysts Forecast Growth

DEO has been the topic of several recent research reports. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, TD Cowen increased their price target on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Diageo currently has an average rating of “Hold” and a consensus 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.