Baxter Bros Inc. Sells 575 Shares of Diageo plc (NYSE:DEO)

Baxter Bros Inc. decreased its stake in Diageo plc (NYSE:DEO) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,975 shares of the company’s stock after selling 575 shares during the period. Baxter Bros Inc.’s holdings in Diageo were worth $725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Clearbridge Investments LLC increased its position in Diageo by 0.4% during the 3rd quarter. Clearbridge Investments LLC now owns 2,384,109 shares of the company’s stock valued at $355,661,000 after purchasing an additional 10,269 shares during the period. Markel Group Inc. raised its stake 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 buying an additional 4,500 shares during the last quarter. Royal Bank of Canada lifted its holdings in Diageo by 2.4% in the third quarter. Royal Bank of Canada now owns 1,187,543 shares of the company’s stock valued at $177,156,000 after buying an additional 27,851 shares during the period. HS Management Partners LLC boosted its position in Diageo by 16.3% during the fourth quarter. HS Management Partners LLC now owns 706,205 shares of the company’s stock valued at $102,866,000 after acquiring an additional 98,819 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Diageo by 26.6% during the third quarter. Envestnet Asset Management Inc. now owns 659,034 shares of the company’s stock valued at $98,315,000 after acquiring an additional 138,406 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, BNP Paribas downgraded Diageo from a “neutral” rating to an “underperform” rating in a research note on Friday, January 12th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3,797.50.

Diageo Stock Performance

DEO traded up $0.87 during midday trading on Friday, hitting $137.44. The company had a trading volume of 683,538 shares, compared to its average volume of 826,219. The stock’s 50 day moving average price is $145.01 and its 200 day moving average price is $145.62. Diageo plc has a 52 week low of $135.63 and a 52 week high of $188.23. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73.

Diageo Cuts Dividend

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

Diageo 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.