Saratoga Research & Investment Management Sells 33,533 Shares of Diageo plc (NYSE:DEO)

Saratoga Research & Investment Management lessened its stake in Diageo plc (NYSE:DEO) by 9.1% during the fourth quarter, HoldingsChannel reports. The firm owned 333,433 shares of the company’s stock after selling 33,533 shares during the period. Diageo comprises approximately 2.1% of Saratoga Research & Investment Management’s portfolio, making the stock its 19th biggest holding. Saratoga Research & Investment Management’s holdings in Diageo were worth $42,389,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Canoe Financial LP boosted its holdings in Diageo by 88,407.3% in the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after buying an additional 8,104,301 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Diageo in the 4th quarter worth about $123,892,000. ABC Arbitrage SA purchased a new stake in Diageo in the fourth quarter worth approximately $37,777,000. JPMorgan Chase & Co. boosted its stake in shares of Diageo by 25.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock valued at $156,759,000 after purchasing an additional 229,946 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its position in Diageo by 3,073.4% during the fourth quarter. Proficio Capital Partners LLC now owns 209,510 shares of the company’s stock valued at $26,635,000 after buying an additional 202,908 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of DEO opened at $105.25 on Monday. The business’s 50 day moving average price is $111.55 and its 200-day moving average price is $121.85. The stock has a market cap of $58.55 billion, a P/E ratio of 15.36, a P/E/G ratio of 2.39 and a beta of 0.65. Diageo plc has a 52 week low of $103.95 and a 52 week high of $149.24. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on DEO shares. UBS Group raised Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Finally, TD Cowen increased their price target on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Diageo presently has a consensus rating of “Hold” and an average 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.