Diageo plc $DEO Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. lowered its stake in shares of Diageo plc (NYSE:DEO) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,000 shares of the company’s stock after selling 7,968 shares during the quarter. Addenda Capital Inc.’s holdings in Diageo were worth $6,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. raised its holdings in Diageo by 48.5% during the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock worth $162,410,000 after purchasing an additional 555,509 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Diageo by 72,871.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock worth $158,133,000 after acquiring an additional 1,566,013 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Diageo by 8.5% during the third quarter. Envestnet Asset Management Inc. now owns 1,547,626 shares of the company’s stock worth $147,690,000 after acquiring an additional 121,008 shares during the last quarter. Confluence Investment Management LLC grew its position in shares of Diageo by 0.9% during the third quarter. Confluence Investment Management LLC now owns 1,363,504 shares of the company’s stock worth $130,119,000 after acquiring an additional 12,678 shares during the last quarter. Finally, Cullen Capital Management LLC grew its position in shares of Diageo by 67.5% during the third quarter. Cullen Capital Management LLC now owns 1,309,258 shares of the company’s stock worth $124,943,000 after acquiring an additional 527,814 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Barclays reiterated an “overweight” rating on shares of Diageo in a research report on Thursday, December 11th. BNP Paribas Exane upgraded shares of Diageo from an “underperform” rating to a “neutral” rating in a research report on Wednesday, March 25th. Argus upgraded shares of Diageo to a “hold” rating in a research report on Tuesday, March 10th. Finally, Sanford C. Bernstein set a $124.00 price objective on shares of Diageo and gave the company an “outperform” rating in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $116.50.

Diageo Stock Up 4.1%

Shares of NYSE DEO opened at $77.14 on Thursday. Diageo plc has a one year low of $72.45 and a one year high of $116.69. The company’s fifty day moving average is $85.25 and its two-hundred day moving average is $89.37. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60.

Diageo Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, April 17th will be given a dividend of $0.80 per share. This represents a dividend yield of 207.0%. The ex-dividend date is Friday, April 17th.

Diageo Company Profile

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.