Pekin Hardy Strauss Inc. Lowers Position in Diageo plc (NYSE:DEO)

Pekin Hardy Strauss Inc. cut its stake in Diageo plc (NYSE:DEO) by 16.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,683 shares of the company’s stock after selling 910 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Diageo were worth $898,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DEO. Morgan Stanley lifted its holdings in shares of Diageo by 3.8% during the first quarter. Morgan Stanley now owns 2,009,648 shares of the company’s stock valued at $330,005,000 after purchasing an additional 73,767 shares during the last quarter. London Co. of Virginia increased its position in shares of Diageo by 0.8% during the first quarter. London Co. of Virginia now owns 1,604,653 shares of the company’s stock valued at $263,500,000 after acquiring an additional 12,962 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Diageo by 8.6% during the first quarter. Clearbridge Investments LLC now owns 1,344,933 shares of the company’s stock valued at $220,851,000 after acquiring an additional 106,960 shares in the last quarter. AKO Capital LLP increased its position in shares of Diageo by 71.2% during the second quarter. AKO Capital LLP now owns 1,282,189 shares of the company’s stock valued at $245,783,000 after acquiring an additional 533,371 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Diageo by 0.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 942,425 shares of the company’s stock valued at $154,756,000 after acquiring an additional 4,739 shares in the last quarter. Institutional investors and hedge funds own 9.85% of the company’s stock.

A number of equities research analysts have commented on DEO shares. Argus raised shares of Diageo from a “hold” rating to a “buy” rating and set a $225.00 target price for the company in a research report on Friday, June 4th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Diageo in a research report on Friday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Diageo in a research report on Wednesday, July 14th. Citigroup reissued a “neutral” rating on shares of Diageo in a research report on Tuesday, June 22nd. Finally, Barclays reissued an “overweight” rating on shares of Diageo in a research report on Friday, July 30th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Diageo has a consensus rating of “Buy” and an average price target of $189.12.

Shares of DEO stock opened at $189.85 on Friday. The stock has a market cap of $121.45 billion, a P/E ratio of 29.03, a PEG ratio of 3.20 and a beta of 0.66. Diageo plc has a 52 week low of $127.31 and a 52 week high of $202.35. The company has a quick ratio of 0.76, a current ratio of 1.60 and a debt-to-equity ratio of 1.57. The company’s fifty day simple moving average is $194.45 and its two-hundred day simple moving average is $187.06.

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, October 13th. Stockholders of record on Friday, August 27th will be issued a $2.4803 dividend. The ex-dividend date is Thursday, August 26th. This is an increase from Diageo’s previous semi-annual dividend of $1.53. This represents a dividend yield of 1.8%. Diageo’s payout ratio is 75.54%.

Diageo Company Profile

Diageo Plc engages in the production and distribution of alcoholic beverages. Its brands include Johnnie Walker, Crown Royal, JeB, Buchanan’s, Windsor and Bushmills whiskies, Smirnoff, Ciroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray, and Guinness. It operates through the following geographical segments: North America; Europe and Turkey; Africa; Latin America and Caribbean; Asia Pacific; ISC; and Corporate and Other.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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