Spinnaker Trust Trims Position in Diageo plc (NYSE:DEO)

Spinnaker Trust lessened its stake in shares of Diageo plc (NYSE:DEO) by 3.8% during the 4th quarter, Holdings Channel reports. The fund owned 2,038 shares of the company’s stock after selling 80 shares during the quarter. Spinnaker Trust’s holdings in Diageo were worth $297,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Compagnie Lombard Odier SCmA purchased a new stake in Diageo in the 3rd quarter valued at about $27,000. Planned Solutions Inc. purchased a new stake in Diageo in the 4th quarter valued at about $27,000. MCF Advisors LLC purchased a new stake in Diageo in the 3rd quarter valued at about $30,000. Criterion Capital Advisors LLC purchased a new stake in Diageo in the 4th quarter valued at about $36,000. Finally, First Command Advisory Services Inc. purchased a new stake in Diageo in the 3rd quarter valued at about $48,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on DEO. Argus downgraded Diageo from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. BNP Paribas downgraded Diageo from a “neutral” rating to an “underperform” rating in a research report on Friday, January 12th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, Diageo currently has a consensus rating of “Hold” and a consensus price target of $3,797.50.

Diageo Stock Performance

Shares of Diageo stock traded up $0.33 on Friday, reaching $138.64. 610,772 shares of the company were exchanged, compared to its average volume of 745,350. Diageo plc has a 1-year low of $135.63 and a 1-year high of $189.54. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.65 and a current ratio of 1.58. The stock’s 50 day moving average price is $146.29 and its 200-day moving average price is $146.13.

Diageo Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, March 1st were given a dividend of $1.62 per share. This represents a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, February 29th.

Diageo Profile

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.