Douglas Lane & Associates LLC cut its stake in Diageo plc (NYSE:DEO – Get Rating) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 497,109 shares of the company's stock after selling 3,787 shares during the period. Diageo comprises about 1.5% of Douglas Lane & Associates LLC's investment portfolio, making the stock its 17th largest position. Douglas Lane & Associates LLC's holdings in Diageo were worth $86,557,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the stock. Heritage Investment Group Inc. grew its holdings in shares of Diageo by 4.5% in the first quarter. Heritage Investment Group Inc. now owns 1,150 shares of the company's stock worth $234,000 after purchasing an additional 50 shares during the last quarter. Dynamic Advisor Solutions LLC grew its holdings in Diageo by 4.3% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,339 shares of the company's stock worth $272,000 after acquiring an additional 55 shares in the last quarter. Samalin Investment Counsel LLC grew its holdings in Diageo by 20.7% during the 1st quarter. Samalin Investment Counsel LLC now owns 321 shares of the company's stock worth $65,000 after acquiring an additional 55 shares in the last quarter. Concord Wealth Partners grew its holdings in Diageo by 81.2% during the 1st quarter. Concord Wealth Partners now owns 125 shares of the company's stock worth $25,000 after acquiring an additional 56 shares in the last quarter. Finally, Welch & Forbes LLC grew its holdings in Diageo by 0.6% during the 1st quarter. Welch & Forbes LLC now owns 9,041 shares of the company's stock worth $1,837,000 after acquiring an additional 57 shares in the last quarter. 9.00% of the stock is currently owned by institutional investors.
Get Diageo alerts:Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Barclays increased their target price on shares of Diageo from GBX 5,040 ($60.90) to GBX 5,430 ($65.61) in a report on Friday, July 29th. Kepler Capital Markets cut shares of Diageo from a "buy" rating to a "hold" rating in a report on Wednesday, June 29th. BNP Paribas cut shares of Diageo to a "neutral" rating in a report on Tuesday, September 6th. Berenberg Bank increased their price target on shares of Diageo from GBX 3,900 ($47.12) to GBX 4,160 ($50.27) in a research report on Tuesday, August 2nd. Finally, Royal Bank of Canada increased their price target on shares of Diageo from GBX 2,800 ($33.83) to GBX 3,000 ($36.25) in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $4,198.75.
Diageo Price Performance
Shares of Diageo stock opened at $166.89 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.53 and a debt-to-equity ratio of 1.60. The company has a 50 day moving average price of $181.52 and a 200 day moving average price of $186.33. Diageo plc has a 52 week low of $165.50 and a 52 week high of $223.14.Diageo Increases Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, October 25th. Investors of record on Friday, August 26th will be given a $2.2775 dividend. This is a positive change from Diageo's previous semi-annual dividend of $1.57. This represents a dividend yield of 2%. The ex-dividend date of this dividend is Thursday, August 25th.
Diageo Profile
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Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages. The company offers scotch, whisky, gin, vodka, rum, ready to drink products, raki, liqueur, wine, tequila, Canadian whisky, American whiskey, cachaca, and brandy, as well as beer, including cider and non-alcoholic products.
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