Beacon Pointe Advisors LLC Decreases Stock Holdings in Diageo plc (NYSE:DEO)

Beacon Pointe Advisors LLC lowered its position in shares of Diageo plc (NYSE:DEO) by 13.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,522 shares of the company’s stock after selling 1,946 shares during the period. Beacon Pointe Advisors LLC’s holdings in Diageo were worth $1,592,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DEO. CoreFirst Bank & Trust purchased a new stake in shares of Diageo during the fourth quarter worth about $25,000. Eastern Bank lifted its holdings in Diageo by 107.8% in the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after buying an additional 125 shares during the period. Modus Advisors LLC bought a new stake in shares of Diageo in the 4th quarter worth approximately $35,000. Kestra Investment Management LLC purchased a new position in shares of Diageo during the fourth quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Diageo during the fourth quarter valued at approximately $47,000. Institutional investors own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DEO shares. TD Cowen lifted their price target on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Berenberg Bank began coverage on shares of Diageo in a report on Wednesday, April 2nd. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Diageo has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Stock Performance

Shares of DEO stock opened at $111.48 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The company’s fifty day moving average price is $108.42 and its 200-day moving average price is $117.17. The stock has a market cap of $62.02 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63. Diageo plc has a 12 month low of $100.72 and a 12 month high of $144.27.

Diageo Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, April 24th. Shareholders of record on Friday, February 28th were issued a $1.62 dividend. This represents a yield of 3.8%. The ex-dividend date of this dividend was Friday, February 28th. Diageo’s dividend payout ratio (DPR) is presently 46.42%.

Diageo 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.