Spectrum Asset Management Inc. NB CA trimmed its holdings in shares of Diageo plc (NYSE:DEO) by 10.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,872 shares of the company’s stock after selling 1,105 shares during the period. Diageo accounts for approximately 1.1% of Spectrum Asset Management Inc. NB CA’s holdings, making the stock its 27th largest holding. Spectrum Asset Management Inc. NB CA’s holdings in Diageo were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of DEO. Rhumbline Advisers acquired a new position in Diageo in the 3rd quarter valued at $244,000. Bank of New York Mellon Corp increased its stake in shares of Diageo by 661.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 255,087 shares of the company’s stock worth $36,139,000 after acquiring an additional 221,590 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Diageo in the 3rd quarter worth $317,000. Mutual Advisors LLC increased its stake in shares of Diageo by 17.0% in the 3rd quarter. Mutual Advisors LLC now owns 5,963 shares of the company’s stock worth $845,000 after acquiring an additional 866 shares during the last quarter. Finally, Henry James International Management Inc. acquired a new stake in shares of Diageo in the 3rd quarter worth $275,000. 10.61% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Diageo from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Liberum Capital upgraded Diageo from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Sanford C. Bernstein cut Diageo from a “market perform” rating to an “underperform” rating in a report on Friday, January 4th. Barclays began coverage on Diageo in a report on Monday, April 1st. They set an “overweight” rating for the company. Finally, Investec cut Diageo from a “hold” rating to a “sell” rating in a report on Monday, March 25th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $164.75.
The firm also recently declared a semiannual dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Friday, March 1st will be issued a dividend of $1.3688 per share. This represents a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, February 28th. Diageo’s dividend payout ratio is presently 42.68%.
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Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.
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