Asset Management One Co. Ltd. Cuts Stake in Diageo plc (NYSE:DEO)

Asset Management One Co. Ltd. reduced its stake in Diageo plc (NYSE:DEO) by 5.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,810 shares of the company’s stock after selling 210 shares during the period. Asset Management One Co. Ltd.’s holdings in Diageo were worth $484,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new stake in Diageo during the third quarter valued at about $25,000. Eastern Bank lifted its holdings in Diageo by 107.8% during the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after purchasing an additional 125 shares during the last quarter. Modus Advisors LLC purchased a new stake in Diageo during the fourth quarter valued at about $35,000. Concord Wealth Partners purchased a new stake in Diageo during the third quarter valued at about $38,000. Finally, Heck Capital Advisors LLC purchased a new stake in Diageo during the fourth quarter valued at about $47,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Price Performance

DEO stock opened at $107.94 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. The company’s 50 day moving average is $119.59 and its 200 day moving average is $125.53. Diageo plc has a 1-year low of $105.72 and a 1-year high of $154.71.

Diageo Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be given a $1.62 dividend. This represents a dividend yield of 3.8%. The ex-dividend date is Friday, February 28th.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DEO. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. TD Cowen increased their price target on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Finally, Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Diageo currently has a consensus rating of “Hold” and an average 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.