Robertson Stephens Wealth Management LLC Cuts Holdings in Diageo plc (NYSE:DEO)

Robertson Stephens Wealth Management LLC trimmed its position in Diageo plc (NYSE:DEO) by 12.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,652 shares of the company’s stock after selling 514 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Diageo were worth $532,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new position in Diageo in the 3rd quarter valued at $263,000. Cerity Partners LLC boosted its holdings in Diageo by 6.1% in the fourth quarter. Cerity Partners LLC now owns 41,808 shares of the company’s stock valued at $6,090,000 after acquiring an additional 2,400 shares during the last quarter. Retirement Planning Co of New England Inc. increased its position in shares of Diageo by 51.0% in the third quarter. Retirement Planning Co of New England Inc. now owns 8,723 shares of the company’s stock worth $1,301,000 after acquiring an additional 2,946 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Diageo by 8.2% in the 3rd quarter. Wellington Management Group LLP now owns 432,223 shares of the company’s stock valued at $64,479,000 after acquiring an additional 32,928 shares during the period. Finally, Rockline Wealth Management LLC acquired a new position in shares of Diageo during the 4th quarter valued at $1,142,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BNP Paribas cut Diageo from a “neutral” rating to an “underperform” rating in a research note on Friday, January 12th. Argus downgraded shares of Diageo from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3,797.50.

Diageo Trading Up 0.6 %

Shares of Diageo stock traded up $0.86 during trading on Friday, reaching $137.43. The company had a trading volume of 262,604 shares, compared to its average volume of 794,237. Diageo plc has a fifty-two week low of $135.63 and a fifty-two week high of $188.23. The firm’s fifty day moving average is $145.31 and its 200-day moving average is $145.73. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.65 and a current ratio of 1.58.

Diageo Cuts Dividend

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

About Diageo

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.