Global Retirement Partners LLC Sells 2,920 Shares of Diageo plc (NYSE:DEO)

Global Retirement Partners LLC lessened its stake in shares of Diageo plc (NYSE:DEO) by 35.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,226 shares of the company’s stock after selling 2,920 shares during the quarter. Global Retirement Partners LLC’s holdings in Diageo were worth $664,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Diageo during the 3rd quarter worth approximately $25,000. Eastern Bank increased its holdings in shares of Diageo by 107.8% during the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Diageo during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC bought a new position in shares of Diageo in the 4th quarter worth $36,000. Finally, Concord Wealth Partners bought a new position in shares of Diageo in the 3rd quarter worth $38,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DEO. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Finally, TD Cowen lifted their price target on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $129.00.

Diageo Stock Performance

Shares of DEO stock opened at $110.54 on Friday. The firm’s 50 day moving average is $119.17 and its 200 day moving average is $125.49. The stock has a market capitalization of $61.49 billion, a P/E ratio of 16.14, a PEG ratio of 2.39 and a beta of 0.66. Diageo plc has a 12 month low of $105.72 and a 12 month high of $154.71. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62.

Diageo Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo’s dividend payout ratio is currently 73.28%.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.