D.A. Davidson & CO. boosted its holdings in shares of Diageo plc (NYSE:DEO) by 10.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,062 shares of the company’s stock after acquiring an additional 1,676 shares during the period. D.A. Davidson & CO.’s holdings in Diageo were worth $2,457,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of DEO. Summit Trail Advisors LLC lifted its holdings in Diageo by 12,637.3% during the first quarter. Summit Trail Advisors LLC now owns 334,736 shares of the company’s stock worth $335,000 after acquiring an additional 332,108 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Diageo by 23.4% during the first quarter. The Manufacturers Life Insurance Company now owns 1,086,463 shares of the company’s stock worth $147,129,000 after acquiring an additional 205,820 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in Diageo during the second quarter worth about $1,136,000. Sabal Trust CO bought a new position in Diageo during the second quarter worth about $16,529,000. Finally, Carillon Tower Advisers Inc. bought a new position in Diageo during the first quarter worth about $15,105,000. Hedge funds and other institutional investors own 11.66% of the company’s stock.
Several research firms have weighed in on DEO. Argus began coverage on Diageo in a report on Friday, July 13th. They set a “buy” rating and a $168.00 target price on the stock. Goldman Sachs Group upgraded Diageo from a “neutral” rating to a “buy” rating and set a $168.00 target price on the stock in a report on Thursday, July 12th. Zacks Investment Research raised Diageo from a “sell” rating to a “hold” rating in a research note on Monday, May 21st. Macquarie raised Diageo from a “neutral” rating to an “outperform” rating in a research note on Thursday, June 21st. Finally, Sanford C. Bernstein downgraded Diageo from an “outperform” rating to a “market perform” rating and set a $149.00 price target on the stock. in a research note on Friday, June 29th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Diageo currently has an average rating of “Buy” and a consensus target price of $157.33.
DEO opened at $143.94 on Friday. Diageo plc has a 1 year low of $128.81 and a 1 year high of $151.30. The company has a current ratio of 1.37, a quick ratio of 0.58 and a debt-to-equity ratio of 0.71.
The company also recently declared a semiannual dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Friday, August 10th will be paid a $2.1297 dividend. This is an increase from Diageo’s previous semiannual dividend of $1.42. The ex-dividend date of this dividend is Thursday, August 9th. This represents a dividend yield of 2.87%. Diageo’s dividend payout ratio (DPR) is currently 61.78%.
Diageo Company Profile
Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray, and Guinness.
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