Moran Wealth Management LLC Reduces Stock Position in Diageo plc (NYSE:DEO)

Moran Wealth Management LLC cut its stake in Diageo plc (NYSE:DEO) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,427 shares of the company’s stock after selling 2,191 shares during the period. Moran Wealth Management LLC’s holdings in Diageo were worth $4,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Brooklyn Investment Group purchased a new position in Diageo in the third quarter worth approximately $25,000. Eastern Bank grew its position in Diageo by 107.8% in the fourth 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 purchased a new position in Diageo in the fourth quarter worth approximately $35,000. Kestra Investment Management LLC purchased a new position in Diageo in the fourth quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC purchased a new position in Diageo in the fourth quarter worth approximately $47,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DEO has been the subject of several analyst reports. TD Cowen increased their price objective on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Diageo currently has a consensus rating of “Hold” and a consensus price target of $129.00.

Diageo Trading Down 0.6 %

DEO opened at $112.11 on Tuesday. Diageo plc has a 52 week low of $105.72 and a 52 week high of $151.76. The business has a fifty day simple moving average of $115.61 and a 200-day simple moving average of $124.18. The firm has a market cap of $62.37 billion, a P/E ratio of 16.37, a P/E/G ratio of 2.39 and a beta of 0.65. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Diageo Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders 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 46.42%.

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.