Diageo plc (NYSE:DEO) Shares Sold by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC trimmed its position in shares of Diageo plc (NYSE:DEO) by 9.7% during the fourth quarter, HoldingsChannel reports. The fund owned 4,013 shares of the company’s stock after selling 431 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in Diageo were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA acquired a new position in Diageo during the third quarter worth about $27,000. Planned Solutions Inc. acquired a new position in Diageo during the fourth quarter worth about $27,000. MCF Advisors LLC acquired a new stake in shares of Diageo in the third quarter valued at approximately $30,000. Addison Advisors LLC increased its stake in shares of Diageo by 97.3% during the 4th quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $32,000 after purchasing an additional 107 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Diageo during the 4th quarter worth approximately $36,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Diageo Trading Up 0.2 %

Shares of NYSE:DEO traded up $0.33 during trading on Friday, reaching $138.64. The stock had a trading volume of 610,772 shares, compared to its average volume of 745,350. The business has a fifty day moving average price of $146.29 and a 200-day moving average price of $146.08. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.65 and a current ratio of 1.58. Diageo plc has a fifty-two week low of $135.63 and a fifty-two week high of $189.54.

Diageo Cuts Dividend

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

About Diageo

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.