Vestmark Advisory Solutions Inc. Trims Holdings in Diageo plc (NYSE:DEO)

Vestmark Advisory Solutions Inc. cut its stake in Diageo plc (NYSE:DEO) by 4.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 19,914 shares of the company’s stock after selling 825 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Diageo were worth $2,532,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Canoe Financial LP grew its position in shares of Diageo by 88,407.3% in the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after purchasing an additional 8,104,301 shares in the last quarter. FMR LLC grew its position in shares of Diageo by 9.1% in the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after purchasing an additional 437,646 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Diageo by 13.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock valued at $176,042,000 after purchasing an additional 147,920 shares in the last quarter. Confluence Investment Management LLC grew its position in shares of Diageo by 30.5% in the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after purchasing an additional 284,046 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Diageo by 25.9% in the third quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock valued at $156,759,000 after purchasing an additional 229,946 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Price Performance

Shares of NYSE DEO opened at $114.16 on Friday. The firm has a market capitalization of $63.51 billion, a P/E ratio of 16.67, 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. The stock’s 50-day simple moving average is $116.18 and its two-hundred day simple moving average is $124.51. Diageo plc has a twelve month low of $105.72 and a twelve month high of $151.76.

Diageo Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Friday, February 28th will be issued a $1.62 dividend. This represents a dividend yield of 3.8%. The ex-dividend date is Friday, February 28th. Diageo’s payout ratio is currently 46.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DEO shares. TD Cowen lifted their price target on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Diageo currently has an average rating of “Hold” and an average price target of $129.00.

Diageo 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.