ProVise Management Group LLC Sells 210 Shares of Diageo plc (NYSE:DEO)

ProVise Management Group LLC reduced its holdings in Diageo plc (NYSE:DEO) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,077 shares of the company’s stock after selling 210 shares during the quarter. ProVise Management Group LLC’s holdings in Diageo were worth $264,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DEO. Alliance Wealth Advisors LLC UT raised its stake in shares of Diageo by 2.6% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,383 shares of the company’s stock valued at $430,000 after buying an additional 86 shares during the period. Savant Capital LLC raised its stake in shares of Diageo by 5.0% in the fourth quarter. Savant Capital LLC now owns 1,864 shares of the company’s stock valued at $237,000 after buying an additional 88 shares during the period. Diversified Trust Co raised its stake in shares of Diageo by 5.6% in the fourth quarter. Diversified Trust Co now owns 1,855 shares of the company’s stock valued at $236,000 after buying an additional 98 shares during the period. Cromwell Holdings LLC raised its stake in shares of Diageo by 8.6% in the fourth quarter. Cromwell Holdings LLC now owns 1,286 shares of the company’s stock valued at $163,000 after buying an additional 102 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Diageo by 2.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,735 shares of the company’s stock valued at $475,000 after buying an additional 103 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Diageo Price Performance

Shares of NYSE DEO opened at $106.40 on Thursday. The firm has a market capitalization of $59.19 billion, a P/E ratio of 15.53, a P/E/G ratio of 2.39 and a beta of 0.65. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The stock’s 50-day simple moving average is $113.22 and its two-hundred day simple moving average is $123.00. Diageo plc has a twelve month low of $105.23 and a twelve month high of $149.44.

Diageo Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a yield of 3.8%. Diageo’s dividend payout ratio is currently 46.42%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. TD Cowen boosted their price objective on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $129.00.

Diageo Company 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.