Diageo plc $DEO Shares Sold by Searle & CO.

Searle & CO. cut its holdings in shares of Diageo plc (NYSE:DEO) by 67.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,600 shares of the company’s stock after selling 7,350 shares during the quarter. Searle & CO.’s holdings in Diageo were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Equity Investment Corp grew its position in Diageo by 0.3% during the third quarter. Equity Investment Corp now owns 1,673,224 shares of the company’s stock valued at $143,228,000 after buying an additional 5,715 shares during the period. DMKC Advisory Services LLC raised its position in Diageo by 8.6% in the third quarter. DMKC Advisory Services LLC now owns 39,739 shares of the company’s stock worth $3,402,000 after acquiring an additional 3,150 shares during the period. Allspring Global Investments Holdings LLC raised its position in Diageo by 14.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,730 shares of the company’s stock worth $654,000 after acquiring an additional 990 shares during the period. Beverly Hills Private Wealth LLC raised its position in Diageo by 11.1% in the third quarter. Beverly Hills Private Wealth LLC now owns 10,902 shares of the company’s stock worth $933,000 after acquiring an additional 1,091 shares during the period. Finally, Euro Pacific Asset Management LLC raised its position in Diageo by 15.1% in the third quarter. Euro Pacific Asset Management LLC now owns 8,280 shares of the company’s stock worth $709,000 after acquiring an additional 1,085 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Performance

DEO stock opened at $101.49 on Wednesday. The stock has a fifty day moving average of $90.36 and a 200-day moving average of $86.20. Diageo plc has a fifty-two week low of $72.45 and a fifty-two week high of $102.74. The company has a current ratio of 1.60, a quick ratio of 0.62 and a debt-to-equity ratio of 1.53.

Diageo Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, October 16th will be paid a $1.20 dividend. This represents a yield of 252.0%. The ex-dividend date is Friday, October 16th.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Diageo in a research report on Tuesday, October 13th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Diageo in a report on Monday, August 10th. Berenberg Bank reaffirmed a “buy” rating on shares of Diageo in a report on Sunday, August 9th. Deutsche Bank Aktiengesellschaft reiterated a “neutral” rating on shares of Diageo in a research note on Wednesday, October 14th. Finally, Barclays reiterated a “buy” rating on shares of Diageo in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Diageo currently has a consensus rating of “Hold” and a consensus target price of $99.75.

Diageo Company Profile

Diageo plc is a global beverage company that produces and markets alcoholic drinks, including spirits, beer and ready-to-drink products. Its portfolio includes brands such as Johnnie Walker, Guinness, Smirnoff, Baileys, Tanqueray and Captain Morgan. The company sells its products in markets around the world through a combination of owned operations, distributors and other commercial partners. Its offerings span categories including Scotch whisky, vodka, gin, rum, tequila, liqueurs and stout. Diageo was formed in 1997 through the merger of Guinness and Grand Metropolitan.