Saratoga Research & Investment Management Sells 65,490 Shares of Diageo plc $DEO

Saratoga Research & Investment Management lessened its position in shares of Diageo plc (NYSE:DEO) by 19.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,058 shares of the company’s stock after selling 65,490 shares during the period. Diageo comprises 1.2% of Saratoga Research & Investment Management’s holdings, making the stock its 24th largest position. Saratoga Research & Investment Management’s holdings in Diageo were worth $23,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC increased its holdings in Diageo by 3,885.7% during the 3rd quarter. Arlington Trust Co LLC now owns 279 shares of the company’s stock worth $27,000 after purchasing an additional 272 shares in the last quarter. Spire Wealth Management increased its holdings in Diageo by 123.6% during the 4th quarter. Spire Wealth Management now owns 322 shares of the company’s stock worth $28,000 after purchasing an additional 178 shares in the last quarter. Sound Income Strategies LLC increased its holdings in Diageo by 8,000.0% during the 4th quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock worth $29,000 after purchasing an additional 320 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in Diageo during the 4th quarter worth about $30,000. Finally, Texas Capital Bancshares Inc TX bought a new position in Diageo during the 3rd quarter worth about $32,000. Institutional investors own 8.97% of the company’s stock.

Diageo Trading Up 1.4%

Shares of NYSE DEO opened at $81.73 on Friday. Diageo plc has a fifty-two week low of $72.45 and a fifty-two week high of $116.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60. The business has a 50-day moving average of $78.34 and a 200-day moving average of $86.67.

Diageo Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, April 17th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, April 17th. This represents a yield of 195.0%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DEO. Argus upgraded Diageo to a “hold” rating in a report on Tuesday, March 10th. Zacks Research upgraded Diageo from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. BNP Paribas Exane upgraded Diageo from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 25th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $116.50.

Diageo Company Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.