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

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

Several other hedge funds have also recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new stake in Diageo during the 3rd quarter worth about $263,000. Cerity Partners LLC grew its position in shares of Diageo by 6.1% during the 4th quarter. Cerity Partners LLC now owns 41,808 shares of the company’s stock valued at $6,090,000 after acquiring an additional 2,400 shares during the period. Retirement Planning Co of New England Inc. grew its position in shares of Diageo by 51.0% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 8,723 shares of the company’s stock valued at $1,301,000 after acquiring an additional 2,946 shares during the period. Wellington Management Group LLP grew its position in shares of Diageo by 8.2% during the 3rd quarter. Wellington Management Group LLP now owns 432,223 shares of the company’s stock valued at $64,479,000 after acquiring an additional 32,928 shares during the period. Finally, Rockline Wealth Management LLC acquired a new stake in shares of Diageo during the 4th quarter valued at about $1,142,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Price Performance

Diageo stock traded up $0.33 during midday trading on Friday, reaching $138.64. The company had a trading volume of 610,772 shares, compared to its average volume of 745,350. 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 firm’s fifty day simple moving average is $146.29 and its 200-day simple moving average is $146.08. Diageo plc has a 12-month low of $135.63 and a 12-month high of $189.54.

Diageo Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. BNP Paribas cut 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 investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3,797.50.

Diageo Company 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.