Diageo plc (NYSE:DEO) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. cut its stake in shares of Diageo plc (NYSE:DEO) by 16.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,456 shares of the company’s stock after selling 658 shares during the quarter. Essex Financial Services Inc.’s holdings in Diageo were worth $503,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its position in Diageo by 0.4% during the third 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. Markel Group Inc. lifted its holdings in shares of Diageo by 0.3% during the 4th quarter. Markel Group Inc. now owns 1,354,708 shares of the company’s stock valued at $197,327,000 after acquiring an additional 4,500 shares in the last quarter. Royal Bank of Canada boosted its position in Diageo by 2.4% during the 3rd quarter. Royal Bank of Canada now owns 1,187,543 shares of the company’s stock worth $177,156,000 after purchasing an additional 27,851 shares during the period. HS Management Partners LLC increased its holdings in Diageo by 16.3% in the 4th quarter. HS Management Partners LLC now owns 706,205 shares of the company’s stock valued at $102,866,000 after purchasing an additional 98,819 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Diageo by 26.6% in the third quarter. Envestnet Asset Management Inc. now owns 659,034 shares of the company’s stock valued at $98,315,000 after purchasing an additional 138,406 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Up 0.6 %

NYSE:DEO opened at $137.44 on Friday. The firm has a 50-day moving average of $145.31 and a two-hundred day moving average of $145.73. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 0.65. Diageo plc has a 1-year low of $135.63 and a 1-year high of $188.23.

Diageo Cuts Dividend

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

Analyst Upgrades and Downgrades

Separately, BNP Paribas downgraded Diageo from a “neutral” rating to an “underperform” rating in a research report on Friday, January 12th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3,797.50.

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.