Cerity Partners LLC Trims Stock Position in Diageo plc (NYSE:DEO)

Cerity Partners LLC cut its position in Diageo plc (NYSE:DEO - Free Report) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,226 shares of the company's stock after selling 6,817 shares during the period. Cerity Partners LLC's holdings in Diageo were worth $6,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of DEO. Charles Schwab Investment Management Inc. raised its stake in Diageo by 84.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 33,754 shares of the company's stock worth $4,737,000 after purchasing an additional 15,487 shares during the period. Morse Asset Management Inc acquired a new position in shares of Diageo in the third quarter worth $95,000. EP Wealth Advisors LLC boosted its holdings in Diageo by 20.0% in the third quarter. EP Wealth Advisors LLC now owns 2,546 shares of the company's stock valued at $357,000 after purchasing an additional 425 shares during the period. Coldstream Capital Management Inc. raised its position in Diageo by 10.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,769 shares of the company's stock valued at $525,000 after purchasing an additional 353 shares in the last quarter. Finally, Anchor Investment Management LLC grew its position in shares of Diageo by 71.7% during the third quarter. Anchor Investment Management LLC now owns 1,533 shares of the company's stock worth $215,000 after buying an additional 640 shares in the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DEO has been the topic of several research analyst reports. Berenberg Bank started coverage on Diageo in a research report on Wednesday, April 2nd. They set a "buy" rating on the stock. TD Cowen boosted their target price on shares of Diageo from $124.00 to $129.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Diageo has a consensus rating of "Hold" and an average price target of $129.00.

Diageo Stock Up 1.1 %

NYSE:DEO traded up $1.22 during trading hours on Thursday, reaching $109.42. 620,856 shares of the stock were exchanged, compared to its average volume of 923,434. Diageo plc has a twelve month low of $100.72 and a twelve month high of $144.27. The stock has a market cap of $60.87 billion, a PE ratio of 15.97, a PEG ratio of 2.39 and a beta of 0.63. The firm has a 50 day moving average of $107.83 and a 200 day moving average of $119.13. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67.

Diageo Dividend Announcement

The firm also recently declared 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 payout ratio is 46.42%.

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.