Cambridge Trust Co. Reduces Holdings in Diageo plc (NYSE:DEO)

Cambridge Trust Co. lessened its position in Diageo plc (NYSE:DEO) by 83.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 197 shares of the company’s stock after selling 1,021 shares during the period. Cambridge Trust Co.’s holdings in Diageo were worth $29,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado boosted its holdings in Diageo by 4,665.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 482,713 shares of the company’s stock valued at $70,312,000 after acquiring an additional 472,583 shares during the period. Private Advisor Group LLC increased its holdings in Diageo by 3.3% during the 4th quarter. Private Advisor Group LLC now owns 14,621 shares of the company’s stock worth $2,129,000 after purchasing an additional 470 shares during the period. Beacon Financial Group bought a new stake in Diageo during the 4th quarter valued at $296,000. Wellington Management Group LLP raised its holdings in shares of Diageo by 56.7% in the fourth quarter. Wellington Management Group LLP now owns 677,478 shares of the company’s stock valued at $98,681,000 after acquiring an additional 245,255 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in Diageo by 16.4% during the 1st quarter. QRG Capital Management Inc. now owns 7,185 shares of the company’s stock valued at $1,069,000 after purchasing an additional 1,011 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DEO has been the topic of a number of recent research reports. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group downgraded shares of Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Diageo has a consensus rating of “Hold” and an average target price of $3,375.00.

Diageo Price Performance

DEO stock traded up $0.64 during trading on Friday, reaching $123.42. The company had a trading volume of 1,036,342 shares, compared to its average volume of 860,533. Diageo plc has a twelve month low of $121.98 and a twelve month high of $175.06. 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 firm has a 50-day simple moving average of $130.46 and a 200-day simple moving average of $139.55.

Diageo Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, August 30th. This represents a dividend yield of 3.2%.

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.