Diageo plc (NYSE:DEO) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in shares of Diageo plc (NYSE:DEO – Get Rating) by 56.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,991 shares of the company’s stock after selling 7,617 shares during the period. Russell Investments Group Ltd.’s holdings in Diageo were worth $1,068,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DEO. Wealthspire Advisors LLC lifted its stake in shares of Diageo by 1.3% in the 3rd quarter. Wealthspire Advisors LLC now owns 8,439 shares of the company’s stock valued at $1,433,000 after purchasing an additional 109 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Diageo by 9.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 5,699 shares of the company’s stock valued at $968,000 after purchasing an additional 512 shares during the last quarter. Avidian Wealth Solutions LLC purchased a new stake in shares of Diageo in the 4th quarter valued at $303,000. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Diageo by 10.2% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,700 shares of the company’s stock valued at $481,000 after buying an additional 250 shares during the period. Finally, Ritholtz Wealth Management raised its holdings in shares of Diageo by 10.4% in the 4th quarter. Ritholtz Wealth Management now owns 6,205 shares of the company’s stock valued at $1,106,000 after buying an additional 583 shares during the period. Institutional investors and hedge funds own 9.04% of the company’s stock.

Diageo Price Performance

Shares of NYSE DEO opened at $173.28 on Friday. 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 52-week low of $160.09 and a 52-week high of $194.04. The business has a 50-day moving average price of $182.29 and a 200 day moving average price of $179.65.

Diageo Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, April 18th. Shareholders of record on Friday, March 3rd were given a dividend of $1.5187 per share. This represents a yield of 2.06%. This is a boost from Diageo’s previous semi-annual dividend of $1.43. The ex-dividend date was Thursday, March 2nd.

Wall Street Analyst Weigh In

DEO has been the topic of several research analyst reports. Investec upgraded Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, January 31st. HSBC cut their price target on Diageo from GBX 4,800 ($59.70) to GBX 4,500 ($55.97) in a report on Wednesday, February 8th. StockNews.com downgraded Diageo from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Barclays dropped their price objective on Diageo from GBX 5,100 ($63.43) to GBX 4,890 ($60.82) in a report on Thursday, April 6th. Finally, Jefferies Financial Group downgraded Diageo from a “buy” rating to a “hold” rating in a report on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Diageo presently has a consensus rating of “Hold” and an average price target of $4,022.22.

Diageo Company Profile

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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.