Saratoga Research & Investment Management 13F: Cuts DEO Stake by $1.8M

Saratoga Research & Investment Management trimmed its stake in Diageo plc NYSE: DEO by 20,494 shares during the period, according to a Form 13F filing with the Securities and Exchange Commission on October 16, 2026.

DEO Diageo plc

$93.49 ▲ +9.83% year to date

1M 3M YTD

Daily close · Oct 19, 2026

What Changed in Saratoga Research & Investment Management's Diageo Position

The firm reduced its holdings by 5.6% to 340,544 shares. The remaining position carried an estimated value of $29.1 million at the time of the report. In the previous period, the firm held 361,038 shares.

Other Institutional Activity in Diageo

Other major funds also adjusted their positions in the beverage maker. Orbis Allan Gray Ltd grew its holdings by 1,077,484 shares, ending with 4,777,636 shares worth about $446.6 million. Equity Investment Corp lifted its stake by 199,244 shares to hold 1,667,509 shares valued at approximately $155.8 million. Franklin Resources, Inc. raised its position by 206,270 shares, bringing its total to 1,555,320 shares worth about $145.4 million. Markel Group Inc kept its stake steady at 1,372,208 shares valued at roughly $128.2 million. Brookfield Corp added 901,556 shares to hold 1,200,738 shares worth about $112.2 million.

Diageo plc Stock Up 1.6%

Diageo shares recently traded around $93.51, down about 1.7% from the $95.11 close recorded on the October 16, 2026, filing date. The stock sits above its 50-day moving average of $89.72 and above its 200-day moving average of $85.46. Shares have traded between a 52-week low of $72.45 and a 52-week high of $102.74, placing the recent price about 9.0% below the peak.

Recent Earnings

The company generated $19.64 billion in revenue over the trailing twelve months alongside an earnings per share of $3.12. Profitability metrics include a net margin of 8.8% and a return on equity of 15.0%. The next earnings release is scheduled for February 4, 2027.

Dividend

Diageo pays an annual dividend yield of 3.53% with a payout ratio of 106.5%.

Analysts Set New Price Targets

TD Cowen upgraded the stock to a Buy rating with a $93.00 price target on June 26, 2026. The stock carries a consensus buy recommendation from analysts with a mean price target of $106.28 across 7 opinions.

About Diageo

Diageo plc is a London-based beverage giant that produces, markets, and distributes a vast portfolio of alcoholic drinks worldwide. Its brands span scotch, beer, gin, vodka, rum, tequila, and wine, reaching consumers across North America, Europe, Asia, and other global regions. Institutional adjustments in the stock arrive as the company navigates shifts in international consumer demand.

Bottom Line

Institutional investors continue to reallocate capital as Diageo heads toward its next earnings update in February 2027. Market participants will watch whether shares can close the gap toward analyst price targets.