Independent Advisor Alliance lifted its stake in shares of Diageo plc (NYSE:DEO) by 16.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,908 shares of the company’s stock after acquiring an additional 421 shares during the quarter. Independent Advisor Alliance’s holdings in Diageo were worth $363,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in DEO. BerganKDV Wealth Management LLC bought a new stake in Diageo during the 1st quarter valued at approximately $1,247,000. Usca Ria LLC boosted its stake in Diageo by 77.0% during the 1st quarter. Usca Ria LLC now owns 10,374 shares of the company’s stock valued at $1,405,000 after purchasing an additional 4,512 shares during the period. Douglass Winthrop Advisors LLC boosted its stake in Diageo by 4.3% during the 1st quarter. Douglass Winthrop Advisors LLC now owns 316,257 shares of the company’s stock valued at $42,828,000 after purchasing an additional 12,918 shares during the period. Eaton Vance Management boosted its stake in Diageo by 25.2% during the 1st quarter. Eaton Vance Management now owns 11,649 shares of the company’s stock valued at $1,578,000 after purchasing an additional 2,347 shares during the period. Finally, Brinker Capital Inc. boosted its stake in Diageo by 11.6% during the 1st quarter. Brinker Capital Inc. now owns 12,500 shares of the company’s stock valued at $1,703,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 12.16% of the company’s stock.
Diageo stock opened at $142.11 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.58 and a current ratio of 1.37. Diageo plc has a 12 month low of $129.99 and a 12 month high of $151.30.
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 issued a $2.1297 dividend. This is a boost from Diageo’s previous semiannual dividend of $1.42. The ex-dividend date is Thursday, August 9th. This represents a yield of 2.87%. Diageo’s dividend payout ratio is 76.81%.
Several analysts recently weighed in on the company. Argus assumed 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 upgraded 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 upgraded Diageo from a “sell” rating to a “hold” rating in a research note on Monday, May 21st. Macquarie upgraded 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 target price for the company. in a research note on Friday, June 29th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $157.33.
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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