Marks Group Wealth Management Inc Lowers Stock Holdings in Diageo plc (NYSE:DEO)

Marks Group Wealth Management Inc cut its holdings in Diageo plc (NYSE:DEO) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,208 shares of the company’s stock after selling 320 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Diageo were worth $613,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clearbridge Investments LLC lifted its stake in Diageo by 0.4% in the 3rd quarter. Clearbridge Investments LLC now owns 2,384,109 shares of the company’s stock valued at $355,661,000 after buying an additional 10,269 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Diageo by 2.4% in the third quarter. Royal Bank of Canada now owns 1,187,543 shares of the company’s stock valued at $177,156,000 after acquiring an additional 27,851 shares in the last quarter. HS Management Partners LLC boosted its stake in shares of Diageo by 16.3% in the fourth quarter. HS Management Partners LLC now owns 706,205 shares of the company’s stock worth $102,866,000 after acquiring an additional 98,819 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Diageo by 26.6% during the third quarter. Envestnet Asset Management Inc. now owns 659,034 shares of the company’s stock worth $98,315,000 after purchasing an additional 138,406 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Diageo by 2.8% during the third quarter. Raymond James & Associates now owns 570,926 shares of the company’s stock worth $85,171,000 after purchasing an additional 15,543 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DEO has been the topic of a number of research reports. Argus lowered Diageo from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. BNP Paribas lowered shares of Diageo from a “neutral” rating to an “underperform” rating in a research report on Friday, January 12th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, Diageo currently has a consensus rating of “Hold” and a consensus price target of $3,797.50.

Diageo Trading Down 1.0 %

Shares of NYSE DEO traded down $1.36 during trading on Tuesday, hitting $140.75. 448,702 shares of the company were exchanged, compared to its average volume of 809,220. The company has a fifty day moving average price of $146.80 and a 200-day moving average price of $146.39. The company has a quick ratio of 0.65, a current ratio of 1.58 and a debt-to-equity ratio of 1.73. Diageo plc has a 12-month low of $135.63 and a 12-month high of $190.02.

Diageo Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, March 1st were paid a dividend of $1.62 per share. This represents a yield of 2.7%. The ex-dividend date was Thursday, February 29th.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.