Oppenheimer Asset Management Inc. Cuts Stock Position in Diageo plc $DEO

Key Points

• Oppenheimer Asset Management cut its stake in Diageo by 33.8% in Q4, selling 78,113 shares and finishing the period with 153,232 shares valued at $13.22 million.
• Diageo disclosed a $0.80 dividend to be paid on June 4, with shareholders of record and the ex-dividend date on April 17.
• Analysts have an average rating of “Hold” with a consensus price target of $116.50, while DEO recently traded near $79.69 and has a 1‑year range of $72.45–$116.69.

Oppenheimer Asset Management Inc. lessened its holdings in Diageo plc (NYSE:DEO - Free Report) by 33.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 153,232 shares of the company's stock after selling 78,113 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Diageo were worth $13,219,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Arlington Trust Co LLC increased its stake in Diageo by 3,885.7% in the 3rd quarter. Arlington Trust Co LLC now owns 279 shares of the company's stock worth $27,000 after buying an additional 272 shares in the last quarter. Spire Wealth Management increased its stake in Diageo by 123.6% in the 4th quarter. Spire Wealth Management now owns 322 shares of the company's stock worth $28,000 after buying an additional 178 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new stake in Diageo in the 3rd quarter worth $29,000. Sound Income Strategies LLC increased its stake in Diageo by 8,000.0% in the 4th quarter. Sound Income Strategies LLC now owns 324 shares of the company's stock worth $29,000 after buying an additional 320 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in Diageo in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 8.97% of the company's stock.

Diageo Stock Performance

Shares of NYSE DEO opened at $79.69 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. Diageo plc has a 1 year low of $72.45 and a 1 year high of $116.69. The firm has a 50-day simple moving average of $79.90 and a two-hundred day simple moving average of $87.66.

Diageo Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, April 17th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, April 17th. This represents a yield of 195.0%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DEO shares. Deutsche Bank Aktiengesellschaft upgraded Diageo from a "hold" rating to a "buy" rating in a research note on Tuesday, March 31st. Zacks Research raised shares of Diageo from a "strong sell" rating to a "hold" rating in a report on Monday, March 23rd. HSBC downgraded shares of Diageo from a "buy" rating to a "hold" rating in a report on Monday, March 2nd. Argus raised shares of Diageo to a "hold" rating in a report on Tuesday, March 10th. Finally, BNP Paribas Exane raised shares of Diageo from an "underperform" rating to a "neutral" rating in a report on Wednesday, March 25th. Five equities 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's stock. According to data from MarketBeat, Diageo has an average rating of "Hold" and a consensus price target of $116.50.

Diageo 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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