DRH Investments Inc. Trims Position in Diageo plc $DEO

DRH Investments Inc. trimmed its holdings in Diageo plc (NYSE:DEO) by 86.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,342 shares of the company’s stock after selling 68,162 shares during the period. Diageo accounts for approximately 0.8% of DRH Investments Inc.’s portfolio, making the stock its 12th largest position. DRH Investments Inc.’s holdings in Diageo were worth $892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Spire Wealth Management raised its holdings in shares of Diageo by 123.6% in the fourth quarter. Spire Wealth Management now owns 322 shares of the company’s stock valued at $28,000 after buying an additional 178 shares during the last quarter. Sound Income Strategies LLC raised its holdings in 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 in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Diageo during the fourth quarter worth about $30,000. Texas Capital Bancshares Inc TX purchased a new position in Diageo during the third quarter worth about $32,000. Finally, GGM Financials LLC purchased a new position in Diageo during the third quarter worth about $36,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Up 0.8%

NYSE DEO opened at $81.78 on Friday. Diageo plc has a 52-week low of $72.45 and a 52-week high of $116.41. The firm has a 50-day moving average price of $80.77 and a 200 day moving average price of $85.23. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71.

Diageo Announces Dividend

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

Analyst Ratings Changes

DEO has been the subject of several analyst reports. BNP Paribas Exane raised shares of Diageo from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 25th. HSBC cut shares of Diageo from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. Zacks Research raised shares of Diageo from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Argus raised shares of Diageo to a “hold” rating in a report on Tuesday, March 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $116.50.

About Diageo

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.