Occidental Asset Management LLC Sells 125 Shares of Diageo plc (NYSE:DEO)

Occidental Asset Management LLC lowered its stake in shares of Diageo plc (NYSE:DEO) by 2.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,065 shares of the company’s stock after selling 125 shares during the period. Occidental Asset Management LLC’s holdings in Diageo were worth $879,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Sei Investments Co. increased its holdings in Diageo by 6.8% in the 1st quarter. Sei Investments Co. now owns 47,667 shares of the company’s stock worth $9,647,000 after acquiring an additional 3,034 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Diageo by 27.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,749 shares of the company’s stock valued at $762,000 after buying an additional 816 shares in the last quarter. Merit Financial Group LLC grew its holdings in Diageo by 19.2% during the 1st quarter. Merit Financial Group LLC now owns 1,228 shares of the company’s stock valued at $249,000 after buying an additional 198 shares in the last quarter. Ergoteles LLC grew its holdings in Diageo by 34.3% during the 1st quarter. Ergoteles LLC now owns 1,366 shares of the company’s stock valued at $277,000 after buying an additional 349 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in Diageo by 33.5% during the 1st quarter. Prudential Financial Inc. now owns 6,788 shares of the company’s stock valued at $1,379,000 after buying an additional 1,704 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

DEO has been the topic of several research reports. Barclays cut their price target on shares of Diageo from GBX 4,720 ($58.47) to GBX 4,440 ($55.00) in a report on Wednesday, August 2nd. TD Cowen began coverage on Diageo in a research report on Friday. They issued a “market perform” rating on the stock. Morgan Stanley lowered Diageo from an “equal weight” rating to an “underweight” rating in a research report on Thursday, July 20th. Deutsche Bank Aktiengesellschaft upped their price objective on Diageo from GBX 2,920 ($36.17) to GBX 2,950 ($36.54) in a research report on Friday, September 8th. Finally, The Goldman Sachs Group lowered Diageo from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3,898.33.

Diageo Trading Down 0.7 %

Shares of DEO opened at $157.84 on Tuesday. The stock has a 50-day simple moving average of $169.74 and a 200-day simple moving average of $174.62. Diageo plc has a 1 year low of $157.30 and a 1 year high of $191.93. The company has a current ratio of 1.63, a quick ratio of 0.62 and a debt-to-equity ratio of 1.67.

Diageo Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, August 25th will be paid a dividend of $2.5089 per share. This is a boost from Diageo’s previous semi-annual dividend of $1.43. The ex-dividend date of this dividend is Thursday, August 24th. This represents a yield of 2.4%.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.