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

Saratoga Research & Investment Management lowered its holdings in shares of Diageo plc (NYSE:DEO) by 19.5% in the fourth quarter, HoldingsChannel reports. The firm owned 271,058 shares of the company’s stock after selling 65,490 shares during the period. Diageo makes up 1.2% of Saratoga Research & Investment Management’s portfolio, making the stock its 24th largest position. Saratoga Research & Investment Management’s holdings in Diageo were worth $23,384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DEO. Integrated Advisors Network LLC grew its position in shares of Diageo by 3.5% during the 3rd quarter. Integrated Advisors Network LLC now owns 3,110 shares of the company’s stock valued at $297,000 after acquiring an additional 104 shares during the period. Retirement Planning Co of New England Inc. grew its position in shares of Diageo by 2.0% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 5,684 shares of the company’s stock valued at $542,000 after acquiring an additional 114 shares during the period. Wynn Capital LLC grew its position in shares of Diageo by 2.5% during the 4th quarter. Wynn Capital LLC now owns 4,994 shares of the company’s stock valued at $431,000 after acquiring an additional 122 shares during the period. Bridgewater Advisors Inc. grew its position in shares of Diageo by 4.9% during the 3rd quarter. Bridgewater Advisors Inc. now owns 2,702 shares of the company’s stock valued at $236,000 after acquiring an additional 125 shares during the period. Finally, Country Trust Bank grew its position in shares of Diageo by 51.6% during the 3rd quarter. Country Trust Bank now owns 379 shares of the company’s stock valued at $36,000 after acquiring an additional 129 shares during the period. Institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

Diageo stock opened at $81.73 on Friday. Diageo plc has a one year low of $72.45 and a one year high of $116.41. The business has a fifty day moving average price of $78.34 and a 200-day moving average price of $86.67. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53.

Diageo Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. HSBC downgraded shares of Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Argus raised shares of Diageo to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Monday, April 20th. Deutsche Bank Aktiengesellschaft raised Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Finally, Zacks Research raised Diageo from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $116.50.

About Diageo

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.