Tanager Wealth Management LLP Decreases Stake in Diageo plc $DEO

Tanager Wealth Management LLP decreased its holdings in Diageo plc (NYSE:DEO) by 47.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,507 shares of the company’s stock after selling 5,938 shares during the period. Tanager Wealth Management LLP’s holdings in Diageo were worth $523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Glenview Trust Co grew its stake in Diageo by 3.7% during the fourth quarter. Glenview Trust Co now owns 2,928 shares of the company’s stock worth $253,000 after buying an additional 104 shares during the period. Mission Wealth Management LP raised its stake in shares of Diageo by 4.0% in the 4th quarter. Mission Wealth Management LP now owns 2,992 shares of the company’s stock valued at $258,000 after acquiring an additional 114 shares during the period. Intrust Bank NA lifted its holdings in shares of Diageo by 4.4% during the 4th quarter. Intrust Bank NA now owns 3,270 shares of the company’s stock valued at $282,000 after acquiring an additional 138 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its holdings in shares of Diageo by 5.3% during the 4th quarter. Elevation Point Wealth Partners LLC now owns 2,792 shares of the company’s stock valued at $241,000 after acquiring an additional 141 shares in the last quarter. Finally, Lafayette Investments Inc. lifted its holdings in shares of Diageo by 0.4% during the 1st quarter. Lafayette Investments Inc. now owns 36,681 shares of the company’s stock valued at $2,731,000 after acquiring an additional 154 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DEO has been the subject of several recent research reports. Loop Capital set a $99.00 price target on Diageo in a report on Thursday, June 18th. UBS Group restated a “neutral” rating on shares of Diageo in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research report on Friday, July 17th. Zacks Research upgraded Diageo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, TD Cowen reiterated a “buy” rating on shares of Diageo in a research note on Monday, August 10th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $106.25.

Diageo Stock Performance

DEO stock opened at $89.19 on Monday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.62. The firm has a 50 day simple moving average of $88.10 and a 200-day simple moving average of $83.73. Diageo plc has a twelve month low of $72.45 and a twelve month high of $111.19.

Diageo Announces Dividend

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

Diageo 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.