Clearbridge Investments LLC Has $48.05 Million Stake in Diageo plc $DEO

Clearbridge Investments LLC decreased its stake in Diageo plc (NYSE:DEO) by 26.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 556,998 shares of the company’s stock after selling 195,682 shares during the period. Clearbridge Investments LLC’s holdings in Diageo were worth $48,052,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Spire Wealth Management raised its position in shares of Diageo by 123.6% during the fourth quarter. Spire Wealth Management now owns 322 shares of the company’s stock worth $28,000 after purchasing an additional 178 shares during the period. Sound Income Strategies LLC raised its position in shares of Diageo by 8,000.0% during the fourth quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock worth $29,000 after purchasing an additional 320 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Diageo during the fourth quarter worth about $30,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of Diageo during the third quarter worth about $32,000. Finally, GGM Financials LLC acquired a new stake in shares of Diageo during the third quarter worth about $36,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Price Performance

NYSE:DEO opened at $80.32 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 1.53. Diageo plc has a 52-week low of $72.45 and a 52-week high of $116.41. The stock has a 50-day simple moving average of $80.24 and a 200 day simple moving average of $85.45.

Diageo Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, April 17th were paid a $0.80 dividend. This represents a yield of 195.0%. The ex-dividend date was Friday, April 17th.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research report on Monday, April 20th. Deutsche Bank Aktiengesellschaft raised Diageo from a “hold” rating to a “buy” rating in a research report on Tuesday, March 31st. Argus raised Diageo to a “hold” rating in a research report on Tuesday, March 10th. HSBC lowered Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Zacks Research raised Diageo from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Diageo currently has an average rating of “Hold” and an average price target of $116.50.

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.