Diageo plc $DEO Position Lowered by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC cut its Diageo stake by 8.0% in Q4 to 430,013 shares (about $37.1M), making up ~1.7% of Cambiar’s portfolio and ~0.08% of Diageo.
• Diageo declared a $0.80 per share dividend payable June 4 to shareholders of record on April 17 (ex-dividend date April 17).
• Analysts have an average rating of "Hold" with a consensus price target of $116.50; DEO opened at $77.47 and is trading well below its 12‑month high of $116.69.

Cambiar Investors LLC decreased its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 430,013 shares of the company's stock after selling 37,275 shares during the period. Diageo comprises about 1.7% of Cambiar Investors LLC's investment portfolio, making the stock its 29th biggest holding. Cambiar Investors LLC owned about 0.08% of Diageo worth $37,097,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Arlington Trust Co LLC lifted its holdings in Diageo by 3,885.7% in the third quarter. Arlington Trust Co LLC now owns 279 shares of the company's stock worth $27,000 after acquiring an additional 272 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in Diageo in the third quarter worth about $29,000. Spire Wealth Management lifted its holdings in Diageo by 123.6% in the fourth quarter. Spire Wealth Management now owns 322 shares of the company's stock worth $28,000 after acquiring an additional 178 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Diageo by 8,000.0% in the fourth quarter. Sound Income Strategies LLC now owns 324 shares of the company's stock worth $29,000 after acquiring an additional 320 shares during the last quarter. Finally, Texas Capital Bancshares Inc TX bought a new position in Diageo in the third quarter worth about $32,000. Institutional investors own 8.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Sanford C. Bernstein set a $124.00 target price on shares of Diageo and gave the stock an "outperform" rating in a report on Monday, December 29th. Zacks Research raised shares of Diageo from a "strong sell" rating to a "hold" rating in a report on Monday, March 23rd. Royal Bank Of Canada raised shares of Diageo from a "sector perform" rating to an "outperform" rating in a report on Tuesday, January 6th. HSBC cut shares of Diageo from a "buy" rating to a "hold" rating in a report on Monday, March 2nd. Finally, BNP Paribas Exane raised shares of Diageo from an "underperform" rating to a "neutral" rating in a report on Wednesday, March 25th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $116.50.

Diageo Stock Performance

DEO opened at $77.47 on Friday. The business's 50 day moving average is $84.70 and its 200-day moving average is $89.12. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. Diageo plc has a twelve month low of $72.45 and a twelve month high of $116.69.

Diageo Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, June 4th. Stockholders of record on Friday, April 17th will be issued a dividend of $0.80 per share. This represents a dividend yield of 207.0%. The ex-dividend date of this dividend is Friday, April 17th.

Diageo Company Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange NYSE: DEO and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo's core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.

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