Eldred Rock Partners LLC Sells 8,234 Shares of Diageo plc $DEO

Eldred Rock Partners LLC trimmed its position in Diageo plc (NYSE:DEO) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,396 shares of the company’s stock after selling 8,234 shares during the quarter. Diageo makes up 1.6% of Eldred Rock Partners LLC’s portfolio, making the stock its 29th biggest position. Eldred Rock Partners LLC’s holdings in Diageo were worth $6,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in Diageo by 72,871.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock valued at $158,133,000 after purchasing an additional 1,566,013 shares during the period. Equity Investment Corp bought a new stake in shares of Diageo during the third quarter worth approximately $92,970,000. Orbis Allan Gray Ltd lifted its holdings in Diageo by 236.6% in the second quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock valued at $116,772,000 after buying an additional 813,973 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Diageo by 353.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 717,740 shares of the company’s stock valued at $72,377,000 after buying an additional 559,547 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in Diageo by 48.5% in the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock valued at $162,410,000 after acquiring an additional 555,509 shares during the last quarter. 8.97% of the stock is owned by institutional investors.

Diageo Stock Performance

Shares of NYSE:DEO opened at $73.35 on Friday. The company has a 50 day moving average price of $86.44 and a two-hundred day moving average price of $90.11. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. Diageo plc has a 52 week low of $72.45 and a 52 week high of $116.69.

Diageo Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, April 17th will be given a $0.80 dividend. The ex-dividend date is Friday, April 17th. This represents a dividend yield of 207.0%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. BNP Paribas Exane raised shares of Diageo from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 25th. Barclays restated an “overweight” rating on shares of Diageo in a research report on Thursday, December 11th. Royal Bank Of Canada raised Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft raised Diageo from a “hold” rating to a “buy” rating in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Diageo currently has a consensus rating of “Hold” and a consensus target price of $116.50.

Diageo Company Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.