Clearstead Advisors LLC Reduces Stock Holdings in Diageo plc (NYSE:DEO)

Clearstead Advisors LLC decreased its stake in Diageo plc (NYSE:DEO – Get Rating) by 27.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,834 shares of the company’s stock after selling 687 shares during the quarter. Clearstead Advisors LLC’s holdings in Diageo were worth $311,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Trust Co. NA raised its position in shares of Diageo by 2.9% in the 2nd quarter. Private Trust Co. NA now owns 2,162 shares of the company’s stock worth $376,000 after acquiring an additional 60 shares in the last quarter. SeaCrest Wealth Management LLC increased its position in Diageo by 2.2% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,927 shares of the company’s stock valued at $497,000 after buying an additional 62 shares in the last quarter. Arkadios Wealth Advisors increased its position in Diageo by 4.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,410 shares of the company’s stock valued at $239,000 after buying an additional 64 shares in the last quarter. Tevis Investment Management increased its position in Diageo by 6.5% during the 3rd quarter. Tevis Investment Management now owns 1,075 shares of the company’s stock valued at $182,000 after buying an additional 66 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC increased its position in Diageo by 0.4% during the 2nd quarter. Marble Harbor Investment Counsel LLC now owns 18,371 shares of the company’s stock valued at $3,199,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 9.04% of the company’s stock.

Diageo Price Performance

Shares of DEO stock opened at $172.75 on Wednesday. The stock’s 50-day simple moving average is $176.52 and its 200-day simple moving average is $175.64. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.57 and a quick ratio of 0.78. Diageo plc has a fifty-two week low of $160.09 and a fifty-two week high of $212.33.

Diageo Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, April 18th. Stockholders of record on Friday, March 3rd will be paid a $1.5187 dividend. This is an increase from Diageo’s previous semi-annual dividend of $1.43. The ex-dividend date is Thursday, March 2nd. This represents a dividend yield of 2.06%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Morgan Stanley reduced their target price on Diageo from GBX 3,900 ($47.53) to GBX 3,600 ($43.88) in a research report on Tuesday, January 31st. JPMorgan Chase & Co. upped their target price on Diageo from GBX 4,350 ($53.02) to GBX 4,500 ($54.84) in a research report on Thursday, December 1st. Credit Suisse Group reduced their target price on Diageo from GBX 4,500 ($54.84) to GBX 4,200 ($51.19) in a research report on Friday, January 27th. UBS Group lowered Diageo from a “buy” rating to a “neutral” rating in a research report on Thursday, January 12th. Finally, Sanford C. Bernstein raised Diageo from a “market perform” rating to an “outperform” rating in a report on Monday, February 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Diageo presently has a consensus rating of “Hold” and an average price target of $4,081.00.

About Diageo

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Diageo Plc engages in the production and distribution of alcoholic beverages. Its brands include Johnnie Walker, Crown Royal, JeB, Buchanan’s, Windsor and Bushmills whiskies, Smirnoff, Ciroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray, and Guinness. It operates through the following geographical segments: North America; Europe and Turkey; Africa; Latin America and Caribbean; Asia Pacific; ISC; and Corporate and Other.