Cerity Partners LLC Acquires 2,400 Shares of Diageo plc (NYSE:DEO)

Cerity Partners LLC boosted its holdings in Diageo plc (NYSE:DEO) by 6.1% in the fourth quarter, HoldingsChannel reports. The firm owned 41,808 shares of the company’s stock after purchasing an additional 2,400 shares during the period. Cerity Partners LLC’s holdings in Diageo were worth $6,090,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sei Investments Co. lifted its position in shares of Diageo by 6.8% during the 1st quarter. Sei Investments Co. now owns 47,667 shares of the company’s stock valued at $9,647,000 after acquiring an additional 3,034 shares during the period. Sequoia Financial Advisors LLC increased its stake in Diageo by 27.8% in the first quarter. Sequoia Financial Advisors LLC now owns 3,749 shares of the company’s stock valued at $762,000 after purchasing an additional 816 shares in the last quarter. Merit Financial Group LLC boosted its position in shares of Diageo by 19.2% during the 1st quarter. Merit Financial Group LLC now owns 1,228 shares of the company’s stock worth $249,000 after purchasing an additional 198 shares in the last quarter. Ergoteles LLC boosted its position in shares of Diageo by 34.3% during the 1st quarter. Ergoteles LLC now owns 1,366 shares of the company’s stock worth $277,000 after purchasing an additional 349 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Diageo by 33.5% in the 1st quarter. Prudential Financial Inc. now owns 6,788 shares of the company’s stock valued at $1,379,000 after buying an additional 1,704 shares during the period. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Performance

Shares of NYSE:DEO opened at $137.40 on Tuesday. The business’s 50 day moving average is $147.59 and its 200 day moving average is $146.70. Diageo plc has a 12-month low of $135.63 and a 12-month high of $190.02. The company has a quick ratio of 0.65, a current ratio of 1.58 and a debt-to-equity ratio of 1.73.

Diageo Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Friday, March 1st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a dividend yield of 2.7%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. BNP Paribas downgraded Diageo from a “neutral” rating to an “underperform” rating in a research note on Friday, January 12th. Argus cut Diageo from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, Diageo has a consensus rating of “Hold” and an average target price of $3,778.00.

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.