NewEdge Wealth LLC Has $2.63 Million Holdings in Diageo plc (NYSE:DEO)

NewEdge Wealth LLC cut its stake in Diageo plc (NYSE:DEO) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,648 shares of the company’s stock after selling 1,088 shares during the period. NewEdge Wealth LLC’s holdings in Diageo were worth $2,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of Diageo by 38.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the company’s stock worth $326,000 after buying an additional 643 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Diageo during the 3rd quarter worth about $200,000. Mutual Advisors LLC boosted its stake in shares of Diageo by 6.3% during the 3rd quarter. Mutual Advisors LLC now owns 12,326 shares of the company’s stock worth $1,657,000 after buying an additional 733 shares during the last quarter. Golden State Equity Partners boosted its stake in shares of Diageo by 6.2% during the 3rd quarter. Golden State Equity Partners now owns 2,016 shares of the company’s stock worth $283,000 after buying an additional 117 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Diageo by 14.2% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,902 shares of the company’s stock worth $828,000 after buying an additional 734 shares during the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DEO has been the subject of a number of recent research reports. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, TD Cowen increased their price objective 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 analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Diageo presently has a consensus rating of “Hold” and a consensus target price of $129.00.

Diageo Trading Up 0.2 %

Shares of NYSE:DEO opened at $108.83 on Friday. Diageo plc has a 52-week low of $105.72 and a 52-week high of $151.76. The company has a market capitalization of $60.54 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 2.39 and a beta of 0.66. The company has a 50-day simple moving average of $117.39 and a 200 day simple moving average of $125.00. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60.

Diageo Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a yield of 3.8%. Diageo’s dividend payout ratio (DPR) is currently 46.42%.

About Diageo

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.