First Manhattan CO. LLC. Sells 35,618 Shares of Diageo plc (NYSE:DEO)

First Manhattan CO. LLC. cut its position in Diageo plc (NYSE:DEO) by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,167 shares of the company’s stock after selling 35,618 shares during the quarter. First Manhattan CO. LLC.’s holdings in Diageo were worth $32,277,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. CoreFirst Bank & Trust bought a new stake in Diageo in the 4th quarter valued at $25,000. Eastern Bank lifted its holdings in Diageo by 107.8% during the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after purchasing an additional 125 shares during the last quarter. BNP Paribas bought a new stake in Diageo in the 4th quarter valued at $32,000. Kestra Investment Management LLC bought a new position in Diageo during the 4th quarter worth $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Diageo during the fourth quarter worth $47,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Stock Performance

Shares of Diageo stock opened at $115.39 on Friday. The business has a fifty day simple moving average of $108.93 and a two-hundred day simple moving average of $116.40. The firm has a market capitalization of $64.19 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.39 and a beta of 0.60. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. Diageo plc has a 12 month low of $100.72 and a 12 month high of $144.27.

Diageo Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DEO shares. Berenberg Bank initiated coverage on shares of Diageo in a research report on Wednesday, April 2nd. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Diageo currently has a consensus rating of “Hold” and a consensus price target 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.