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

Spinnaker Trust reduced its stake in Diageo plc (NYSE:DEO) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Atria Wealth Solutions Inc. increased its position in shares of Diageo by 1.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 9,670 shares of the company’s stock valued at $1,409,000 after purchasing an additional 155 shares during the last quarter. Wynn Capital LLC purchased a new position in shares of Diageo during the 4th quarter valued at $411,000. Yousif Capital Management LLC lifted its position in shares of Diageo by 6.6% during the 4th quarter. Yousif Capital Management LLC now owns 9,866 shares of the company’s stock valued at $1,437,000 after buying an additional 615 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Diageo during the 4th quarter valued at $285,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Diageo by 12.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,757 shares of the company’s stock valued at $256,000 after buying an additional 198 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Trading Up 0.2 %

NYSE DEO traded up $0.33 during trading on Friday, reaching $138.64. The company’s stock had a trading volume of 610,772 shares, compared to its average volume of 745,350. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 0.65. The firm has a fifty day moving average of $146.29 and a 200 day moving average of $146.13. Diageo plc has a one year low of $135.63 and a one year 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. The ex-dividend date was Thursday, February 29th. This represents a yield of 2.7%.

Wall Street Analyst Weigh In

A number of 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 lowered Diageo from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, Diageo presently has an average rating of “Hold” and an average price target 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.