Bartlett & CO. Wealth Management LLC Lowers Stock Position in Diageo plc (NYSE:DEO)

Bartlett & CO. Wealth Management LLC lessened its holdings in shares of Diageo plc (NYSE:DEO) by 12.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 40,148 shares of the company’s stock after selling 5,477 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Diageo were worth $5,739,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DEO. Beacon Capital Management LLC raised its position in Diageo by 777.3% during the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after acquiring an additional 171 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Diageo in the 2nd quarter valued at $25,000. Concord Wealth Partners purchased a new stake in Diageo during the 1st quarter valued at about $29,000. Triad Wealth Partners LLC acquired a new position in shares of Diageo during the 2nd quarter valued at about $25,000. Finally, Bruce G. Allen Investments LLC raised its position in Diageo by 1,395.0% in the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock valued at $42,000 after purchasing an additional 279 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DEO shares. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Finally, The Goldman Sachs Group downgraded shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Diageo Stock Performance

Shares of DEO stock opened at $139.41 on Friday. The firm has a market cap of $77.49 billion, a P/E ratio of 19.86, a PEG ratio of 3.77 and a beta of 0.69. The stock’s 50-day moving average is $133.30 and its two-hundred day moving average is $133.83. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. Diageo plc has a fifty-two week low of $119.48 and a fifty-two week high of $161.64.

Diageo Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Thursday, October 17th. Investors of record on Friday, August 30th were given a dividend of $1.62 per share. This represents a yield of 3.2%. The ex-dividend date was Friday, August 30th. Diageo’s dividend payout ratio (DPR) is currently 71.37%.

Diageo Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.