Douglas Lane & Associates LLC Sells 34,625 Shares of Diageo plc $DEO

Key Points

• Douglas Lane & Associates LLC sold 34,625 shares of Diageo, trimming its stake by 7.2% to 449,324 shares valued at about $38.76 million (roughly 0.08% of the company).
• Analysts hold a mixed view with an average rating of "Hold" and an average price target of $116.50, based on 5 Buys, 6 Holds and 2 Sells, alongside several recent upgrades from firms such as Deutsche Bank and BNP Paribas Exane.
• Diageo declared a $0.80 dividend payable on June 4, with shareholders of record (and the ex-dividend date) listed as April 17.

Douglas Lane & Associates LLC trimmed its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 449,324 shares of the company's stock after selling 34,625 shares during the period. Douglas Lane & Associates LLC owned 0.08% of Diageo worth $38,763,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Arlington Trust Co LLC raised its stake in shares of Diageo by 3,885.7% during the third quarter. Arlington Trust Co LLC now owns 279 shares of the company's stock worth $27,000 after buying an additional 272 shares during the last quarter. Spire Wealth Management increased its stake in Diageo by 123.6% in the fourth quarter. Spire Wealth Management now owns 322 shares of the company's stock valued at $28,000 after purchasing an additional 178 shares in the last quarter. New England Capital Financial Advisors LLC bought a new stake in Diageo in the third quarter valued at approximately $29,000. Sound Income Strategies LLC increased its stake in Diageo by 8,000.0% in the fourth quarter. Sound Income Strategies LLC now owns 324 shares of the company's stock valued at $29,000 after purchasing an additional 320 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in Diageo in the fourth quarter valued at approximately $30,000. 8.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays reaffirmed an "overweight" rating on shares of Diageo in a research note on Thursday, December 11th. BNP Paribas Exane raised shares of Diageo from an "underperform" rating to a "neutral" rating in a research note on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a "hold" rating to a "buy" rating in a research note on Tuesday, March 31st. Argus raised shares of Diageo to a "hold" rating in a research note on Tuesday, March 10th. Finally, Sanford C. Bernstein set a $124.00 target price on shares of Diageo and gave the company an "outperform" rating in a research note on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $116.50.

Diageo Trading Up 1.9%

Diageo stock opened at $78.53 on Friday. Diageo plc has a twelve month low of $72.45 and a twelve month high of $116.69. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average of $85.00 and a 200-day moving average of $89.29.

Diageo Dividend Announcement

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

About Diageo

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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