LGL Partners LLC Decreases Holdings in Diageo plc (NYSE:DEO)

LGL Partners LLC reduced its stake in Diageo plc (NYSE:DEO) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,816 shares of the company’s stock after selling 216 shares during the period. LGL Partners LLC’s holdings in Diageo were worth $231,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Diageo in the third quarter valued at about $25,000. Eastern Bank boosted its holdings in Diageo by 107.8% in the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after acquiring an additional 125 shares during the period. Modus Advisors LLC acquired a new stake in Diageo in the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC purchased a new stake in shares of Diageo during the fourth quarter valued at approximately $36,000. Finally, Concord Wealth Partners acquired a new position in shares of Diageo during the third quarter worth $38,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Trading Down 0.2 %

DEO opened at $110.07 on Wednesday. Diageo plc has a 12-month low of $105.72 and a 12-month high of $154.71. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The stock has a market capitalization of $61.23 billion, a PE ratio of 16.07, a P/E/G ratio of 2.39 and a beta of 0.66. The firm’s fifty day moving average price is $118.39 and its 200 day moving average price is $125.33.

Diageo Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Friday, February 28th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo’s dividend payout ratio (DPR) is presently 46.42%.

Wall Street Analyst Weigh In

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

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.