Tanager Wealth Management LLP Trims Position in Diageo plc $DEO

Key Points

• Tanager Wealth Management trimmed its position in Diageo by 63.8% in Q4, selling 21,908 shares and finishing the quarter with 12,409 shares valued at about $1.07 million.
• Diageo declared a $0.80 dividend payable on June 4, with shareholders of record (and the ex-dividend date) on April 17.
• Analyst coverage is mixed — five Buys, six Holds and two Sells — leaving Diageo with an average rating of "Hold" and an average price target of $116.50.

Tanager Wealth Management LLP trimmed its position in Diageo plc (NYSE:DEO - Free Report) by 63.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,409 shares of the company's stock after selling 21,908 shares during the quarter. Tanager Wealth Management LLP's holdings in Diageo were worth $1,071,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC bought a new position in Diageo in the 4th quarter valued at $202,000. Russell Investments Group Ltd. raised its position in shares of Diageo by 17.0% in the second quarter. Russell Investments Group Ltd. now owns 3,952 shares of the company's stock worth $399,000 after buying an additional 574 shares in the last quarter. Invesco Ltd. boosted its stake in Diageo by 5.3% during the second quarter. Invesco Ltd. now owns 212,004 shares of the company's stock valued at $21,379,000 after buying an additional 10,653 shares during the period. EverSource Wealth Advisors LLC grew its position in Diageo by 87.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,234 shares of the company's stock worth $124,000 after buying an additional 575 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Diageo during the second quarter worth about $444,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Trading Up 2.3%

NYSE:DEO opened at $81.90 on Friday. The business has a 50 day moving average of $83.20 and a 200 day moving average of $88.66. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60. Diageo plc has a 1-year low of $72.45 and a 1-year high of $116.69.

Diageo Dividend Announcement

The firm also recently disclosed 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 195.0%. The ex-dividend date is Friday, April 17th.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DEO shares. Deutsche Bank Aktiengesellschaft raised Diageo from a "hold" rating to a "buy" rating in a report on Tuesday, March 31st. 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. Royal Bank Of Canada upgraded shares of Diageo from a "sector perform" rating to an "outperform" rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a "sell (d)" rating on shares of Diageo in a research note on Wednesday, January 21st. Finally, HSBC lowered shares of Diageo from a "buy" rating to a "hold" rating in a report on Monday, March 2nd. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $116.50.

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.

Want to see what other hedge funds are holding DEO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diageo plc (NYSE:DEO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.