Procyon Advisors LLC Has $1.16 Million Stock Position in Diageo plc (NYSE:DEO)

Procyon Advisors LLC reduced its position in shares of Diageo plc (NYSE:DEO) by 32.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,982 shares of the company’s stock after selling 3,905 shares during the quarter. Procyon Advisors LLC’s holdings in Diageo were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Pinnacle Holdings LLC bought a new stake in shares of Diageo during the 1st quarter worth $33,000. Compagnie Lombard Odier SCmA bought a new stake in Diageo in the 3rd quarter valued at $27,000. PCA Investment Advisory Services Inc. bought a new stake in Diageo in the 2nd quarter valued at $31,000. Planned Solutions Inc. bought a new stake in Diageo in the 4th quarter valued at $27,000. Finally, MCF Advisors LLC bought a new stake in Diageo in the 3rd quarter valued at $30,000. 8.97% of the stock is owned by institutional investors.

Diageo Trading Down 0.2 %

Shares of NYSE DEO traded down $0.25 during mid-day trading on Thursday, hitting $149.17. The company’s stock had a trading volume of 31,712 shares, compared to its average volume of 808,487. The company’s fifty day simple moving average is $147.01 and its 200-day simple moving average is $147.83. Diageo plc has a one year low of $135.63 and a one year 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 disclosed a semi-annual dividend, which will be paid on Wednesday, April 17th. Investors of record on Friday, March 1st will be paid a dividend of $1.62 per share. This represents a yield of 2.7%. The ex-dividend date of this dividend is Thursday, February 29th.

Wall Street Analysts Forecast Growth

DEO has been the subject of a number of analyst reports. Argus downgraded shares of Diageo from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. UBS Group cut shares of Diageo from a “neutral” rating to a “sell” rating in a research report on Tuesday, December 5th. JPMorgan Chase & Co. cut shares of Diageo from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 29th. Finally, BNP Paribas cut shares of Diageo from a “neutral” rating to an “underperform” rating in a research report on Friday, January 12th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, Diageo presently has an average rating of “Hold” and an average price target 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.