Waverly Advisors LLC Reduces Stock Position in Diageo plc $DEO

Key Points

• Waverly Advisors reduced its Diageo position by 36.9% in the second quarter, selling 14,328 shares and retaining 24,457 shares valued at approximately $1.97 million.
• Diageo shares opened at $86.67, within a 12-month range of $72.45 to $103.24. The stock has an average analyst rating of “Hold” and a consensus price target of $106.25.
• The company declared a $1.20-per-share dividend payable December 3 to shareholders of record October 16, although the article’s stated 252.0% dividend yield appears inconsistent with the stock price and dividend amount.

Waverly Advisors LLC cut its holdings in Diageo plc (NYSE:DEO - Free Report) by 36.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,457 shares of the company's stock after selling 14,328 shares during the quarter. Waverly Advisors LLC's holdings in Diageo were worth $1,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Glenview Trust Co raised its position in Diageo by 3.7% during the 4th quarter. Glenview Trust Co now owns 2,928 shares of the company's stock valued at $253,000 after purchasing an additional 104 shares during the last quarter. Mission Wealth Management LP grew its position in shares of Diageo by 4.0% in the 4th quarter. Mission Wealth Management LP now owns 2,992 shares of the company's stock worth $258,000 after buying an additional 114 shares during the last quarter. Intrust Bank NA increased its stake in shares of Diageo by 4.4% during the fourth quarter. Intrust Bank NA now owns 3,270 shares of the company's stock valued at $282,000 after buying an additional 138 shares during the period. Elevation Point Wealth Partners LLC raised its holdings in shares of Diageo by 5.3% during the fourth quarter. Elevation Point Wealth Partners LLC now owns 2,792 shares of the company's stock valued at $241,000 after acquiring an additional 141 shares in the last quarter. Finally, Lafayette Investments Inc. raised its holdings in shares of Diageo by 0.4% during the first quarter. Lafayette Investments Inc. now owns 36,681 shares of the company's stock valued at $2,731,000 after acquiring an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company's stock.

Diageo Price Performance

Diageo stock opened at $86.67 on Friday. Diageo plc has a 12 month low of $72.45 and a 12 month high of $103.24. The business's fifty day simple moving average is $88.67 and its two-hundred day simple moving average is $83.47. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.62.

Diageo Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, October 16th will be issued a dividend of $1.20 per share. The ex-dividend date is Friday, October 16th. This represents a dividend yield of 252.0%.

Wall Street Analysts Forecast Growth

DEO has been the topic of several recent analyst reports. Loop Capital set a $99.00 price target on shares of Diageo in a report on Thursday, June 18th. Zacks Research raised shares of Diageo from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. UBS Group reaffirmed a "neutral" rating on shares of Diageo in a research note on Thursday, August 27th. TD Cowen reiterated a "buy" rating on shares of Diageo in a research report on Monday, August 10th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Diageo in a research note on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $106.25.

About Diageo

Diageo plc NYSE: DEO is a global beverage alcohol company headquartered in London, England. It produces, markets and distributes a broad portfolio of spirits, beer and ready-to-drink beverages, serving consumers in more than 180 countries.

Its portfolio includes brands such as Johnnie Walker, Crown Royal, Smirnoff, Cîroc, Captain Morgan, Baileys, Tanqueray, Don Julio, Casamigos, Guinness and Bulleit. The company's business activities span distilling, brewing, brand development, marketing, sales and distribution across multiple alcohol categories and geographic markets.

Diageo was formed in 1997 through the merger of Grand Metropolitan and Guinness.

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