Legacy Capital Wealth Partners LLC Reduces Position in Diageo plc (NYSE:DEO)

Legacy Capital Wealth Partners LLC lowered its position in shares of Diageo plc (NYSE:DEO) by 20.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,641 shares of the company’s stock after selling 428 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Diageo were worth $239,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DEO. Clearbridge Investments LLC raised its position in shares of Diageo by 0.4% during the 3rd quarter. Clearbridge Investments LLC now owns 2,384,109 shares of the company’s stock worth $355,661,000 after acquiring an additional 10,269 shares in the last quarter. Markel Group Inc. raised its holdings in Diageo by 0.3% during the fourth quarter. Markel Group Inc. now owns 1,354,708 shares of the company’s stock worth $197,327,000 after purchasing an additional 4,500 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Diageo by 2.4% during the 3rd quarter. Royal Bank of Canada now owns 1,187,543 shares of the company’s stock worth $177,156,000 after buying an additional 27,851 shares during the last quarter. HS Management Partners LLC boosted its holdings in shares of Diageo by 16.3% in the 4th quarter. HS Management Partners LLC now owns 706,205 shares of the company’s stock valued at $102,866,000 after buying an additional 98,819 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Diageo by 26.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 659,034 shares of the company’s stock worth $98,315,000 after acquiring an additional 138,406 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

Shares of DEO opened at $139.30 on Tuesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 0.65. Diageo plc has a 1 year low of $135.63 and a 1 year high of $188.23. The company’s fifty day moving average is $146.14 and its two-hundred day moving average is $145.94.

Diageo Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 1st were given a $1.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a yield of 2.7%.

Analyst Upgrades and Downgrades

Several research analysts have commented on DEO shares. Argus lowered Diageo from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. BNP Paribas cut shares of Diageo from a “neutral” rating to an “underperform” rating in a report on Friday, January 12th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3,797.50.

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.