Twin Tree Management LP trimmed its holdings in shares of Diageo plc (NYSE:DEO) by 67.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,188 shares of the company’s stock after selling 2,408 shares during the quarter. Twin Tree Management LP’s holdings in Diageo were worth $171,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Creative Financial Designs Inc. ADV acquired a new position in shares of Diageo during the 1st quarter worth approximately $135,000. Private Capital Group LLC raised its stake in shares of Diageo by 273.1% during the 1st quarter. Private Capital Group LLC now owns 1,108 shares of the company’s stock worth $151,000 after buying an additional 811 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of Diageo by 249.9% during the 1st quarter. Loomis Sayles & Co. L P now owns 1,221 shares of the company’s stock worth $165,000 after buying an additional 872 shares during the period. Rockland Trust Co. acquired a new position in shares of Diageo during the 2nd quarter worth approximately $200,000. Finally, Linscomb & Williams Inc. acquired a new position in shares of Diageo during the 2nd quarter worth approximately $205,000. 11.71% of the stock is owned by institutional investors and hedge funds.
NYSE DEO opened at $142.28 on Monday. Diageo plc has a one year low of $129.99 and a one year high of $151.30. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.37 and a quick ratio of 0.58. The firm has a market capitalization of $88.74 billion, a P/E ratio of 25.78, a PEG ratio of 2.76 and a beta of 0.66.
The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, October 10th. Investors 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. This represents a yield of 2.87%. The ex-dividend date is Thursday, August 9th. Diageo’s dividend payout ratio is currently 76.81%.
Several brokerages have recently weighed in on DEO. Argus began coverage on Diageo in a research note on Friday, July 13th. They set a “buy” rating and a $168.00 target price for the company. Goldman Sachs Group raised Diageo from a “neutral” rating to a “buy” rating and set a $168.00 target price for the company in a research note 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 objective for the company. in a research note on Friday, June 29th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $157.33.
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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