Griffin Asset Management Inc. trimmed its position in Diageo plc (NYSE:DEO) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,802 shares of the company’s stock after selling 865 shares during the quarter. Griffin Asset Management Inc.’s holdings in Diageo were worth $1,861,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. TRUE Private Wealth Advisors bought a new stake in Diageo in the second quarter valued at $29,000. Meridian Wealth Management LLC bought a new stake in Diageo in the second quarter valued at $33,000. TCG Advisors LP bought a new stake in Diageo in the first quarter valued at $41,000. Manchester Financial Inc. bought a new stake in Diageo in the second quarter valued at $45,000. Finally, Advisors Preferred LLC bought a new stake in Diageo in the second quarter valued at $51,000. Institutional investors and hedge funds own 9.49% of the company’s stock.
Shares of DEO stock traded up $1.69 during trading hours on Monday, hitting $164.26. 173,308 shares of the company’s stock were exchanged, compared to its average volume of 385,225. The stock’s 50-day moving average is $166.10 and its 200-day moving average is $167.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.34 and a quick ratio of 0.56. The stock has a market cap of $105.71 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 2.81 and a beta of 0.47. Diageo plc has a 52 week low of $131.43 and a 52 week high of $176.22.
The firm also recently announced a Semi-Annual dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Friday, August 9th will be issued a dividend of $2.111 per share. The ex-dividend date is Thursday, August 8th. This is a boost from Diageo’s previous Semi-Annual dividend of $0.19. Diageo’s dividend payout ratio is presently 62.52%.
A number of analysts have weighed in on DEO shares. Societe Generale cut Diageo from a “buy” rating to a “sell” rating in a research report on Thursday, September 5th. They noted that the move was a valuation call. Sanford C. Bernstein upgraded Diageo from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 10th. Finally, Kepler Capital Markets cut Diageo from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $178.00.
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, Bundaberg, McDowell's No.
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