Procyon Advisors LLC Sells 3,905 Shares of Diageo plc (NYSE:DEO)

Procyon Advisors LLC reduced its position in Diageo plc (NYSE:DEO) by 32.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,982 shares of the company’s stock after selling 3,905 shares during the quarter. Procyon Advisors LLC’s holdings in Diageo were worth $1,163,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DEO. Morgan Stanley lifted its position in Diageo by 13.2% during the fourth quarter. Morgan Stanley now owns 3,725,502 shares of the company’s stock valued at $663,848,000 after purchasing an additional 433,105 shares during the last quarter. Clearbridge Investments LLC lifted its position in Diageo by 0.4% during the third quarter. Clearbridge Investments LLC now owns 2,384,109 shares of the company’s stock valued at $355,661,000 after purchasing an additional 10,269 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in Diageo by 98,968.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,023,969 shares of the company’s stock valued at $360,651,000 after purchasing an additional 2,021,926 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Diageo by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,924,396 shares of the company’s stock valued at $390,924,000 after purchasing an additional 12,035 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Diageo by 2.4% during the third quarter. Royal Bank of Canada now owns 1,187,543 shares of the company’s stock worth $177,156,000 after acquiring an additional 27,851 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Down 0.2 %

Diageo stock traded down $0.25 during midday trading on Thursday, hitting $149.17. The stock had a trading volume of 31,712 shares, compared to its average volume of 808,487. The firm’s fifty day moving average is $147.01 and its two-hundred day moving average is $147.83. Diageo plc has a 52-week low of $135.63 and a 52-week high of $190.02. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73.

Diageo Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Argus downgraded shares of Diageo from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. downgraded shares of Diageo from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 29th. BNP Paribas downgraded shares of Diageo from a “neutral” rating to an “underperform” rating in a research note on Friday, January 12th. Finally, UBS Group downgraded shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Tuesday, December 5th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3,778.00.

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.