Kingsview Wealth Management LLC Reduces Holdings in Diageo plc (NYSE:DEO)

Kingsview Wealth Management LLC decreased its holdings in shares of Diageo plc (NYSE:DEOFree Report) by 5.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,710 shares of the company’s stock after selling 94 shares during the period. Kingsview Wealth Management LLC’s holdings in Diageo were worth $255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DEO. Fox Run Management L.L.C. purchased a new stake in Diageo during the 3rd quarter worth $263,000. Raymond James & Associates increased its stake in Diageo by 2.8% during the 3rd quarter. Raymond James & Associates now owns 570,926 shares of the company’s stock worth $85,171,000 after buying an additional 15,543 shares during the period. Bessemer Group Inc. increased its stake in Diageo by 142.4% during the 2nd quarter. Bessemer Group Inc. now owns 21,579 shares of the company’s stock worth $3,744,000 after buying an additional 12,675 shares during the period. Boston Trust Walden Corp increased its stake in Diageo by 2.8% during the 3rd quarter. Boston Trust Walden Corp now owns 61,673 shares of the company’s stock worth $9,200,000 after buying an additional 1,683 shares during the period. Finally, Lincoln National Corp increased its stake in Diageo by 14.2% during the 3rd quarter. Lincoln National Corp now owns 2,199 shares of the company’s stock worth $328,000 after buying an additional 274 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Down 0.9 %

NYSE DEO opened at $148.60 on Thursday. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73. The company’s 50 day simple moving average is $143.38 and its 200 day simple moving average is $152.96. Diageo plc has a 12 month low of $135.63 and a 12 month high of $190.02.

Diageo Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, April 17th. Investors of record on Friday, March 1st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a dividend yield of 2.7%.

Wall Street Analyst Weigh In

DEO has been the subject of several research analyst reports. BNP Paribas downgraded shares of Diageo from a “neutral” rating to an “underperform” rating in a research report on Friday, January 12th. Argus downgraded shares of Diageo from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. downgraded shares of Diageo from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 29th. Finally, UBS Group downgraded shares of Diageo from a “neutral” rating to a “sell” rating in a research report on Tuesday, December 5th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, Diageo has a consensus rating of “Hold” and an average target price of $3,898.33.

Read Our Latest Research Report on DEO

Diageo Profile

(Free Report)

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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