Diageo plc (NYSE:DEO) Stake Lessened by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lessened its stake in shares of Diageo plc (NYSE:DEO) by 46.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,759 shares of the company’s stock after selling 2,356 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Diageo were worth $402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DEO. Compagnie Lombard Odier SCmA bought a new stake in shares of Diageo in the 3rd quarter worth $27,000. Planned Solutions Inc. acquired a new position in Diageo during the fourth quarter worth about $27,000. MCF Advisors LLC bought a new stake in Diageo in the third quarter worth about $30,000. First Command Advisory Services Inc. acquired a new stake in Diageo in the 3rd quarter valued at about $48,000. Finally, Carmel Capital Partners LLC acquired a new stake in Diageo in the 3rd quarter valued at about $49,000. Institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

Shares of DEO opened at $142.11 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 1.58 and a debt-to-equity ratio of 1.73. The company’s 50 day moving average price is $146.80 and its 200 day moving average price is $146.39. Diageo plc has a 52 week low of $135.63 and a 52 week high of $190.02.

Diageo Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, March 1st were issued a dividend of $1.62 per share. This represents a dividend yield of 2.7%. The ex-dividend date was Thursday, February 29th.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BNP Paribas cut shares of Diageo from a “neutral” rating to an “underperform” rating in a report on Friday, January 12th. Argus lowered Diageo from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, Diageo has an average rating of “Hold” and a consensus target price 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.