Verdence Capital Advisors LLC Sells 99 Shares of Diageo plc (NYSE:DEO)

Verdence Capital Advisors LLC reduced its position in Diageo plc (NYSE:DEO) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,050 shares of the company’s stock after selling 99 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Diageo were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Diageo in the third quarter worth approximately $25,000. Eastern Bank boosted its position in shares of Diageo by 107.8% in the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after purchasing an additional 125 shares during the period. Modus Advisors LLC bought a new position in shares of Diageo in the fourth quarter worth approximately $35,000. Kestra Investment Management LLC bought a new position in shares of Diageo in the fourth quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Diageo in the fourth quarter worth approximately $47,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Price Performance

DEO stock opened at $114.12 on Thursday. Diageo plc has a 52 week low of $105.72 and a 52 week high of $151.76. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The company has a fifty day simple moving average of $116.44 and a two-hundred day simple moving average of $124.59. The firm has a market capitalization of $63.49 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65.

Diageo Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, February 28th. This represents a yield of 3.8%. Diageo’s dividend payout ratio (DPR) is currently 46.42%.

Analyst Upgrades and Downgrades

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

Diageo Company Profile

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.