Raymond James & Associates Cuts Holdings in Diageo plc (NYSE:DEO)

Raymond James & Associates lowered its holdings in Diageo plc (NYSE:DEO) by 4.8% in the 2nd quarter, Holdings Channel reports. The firm owned 560,623 shares of the company’s stock after selling 28,467 shares during the period. Raymond James & Associates’ holdings in Diageo were worth $70,683,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. World Equity Group Inc. raised its position in Diageo by 8.2% in the 2nd quarter. World Equity Group Inc. now owns 8,502 shares of the company’s stock worth $1,072,000 after buying an additional 641 shares during the last quarter. Raelipskie Partnership raised its holdings in shares of Diageo by 5.9% during the second quarter. Raelipskie Partnership now owns 5,371 shares of the company’s stock valued at $677,000 after purchasing an additional 300 shares during the last quarter. Gradient Investments LLC lifted its position in Diageo by 2.8% during the second quarter. Gradient Investments LLC now owns 3,181 shares of the company’s stock valued at $401,000 after purchasing an additional 86 shares during the period. Timber Creek Capital Management LLC boosted its holdings in Diageo by 32.4% in the second quarter. Timber Creek Capital Management LLC now owns 32,537 shares of the company’s stock worth $4,102,000 after purchasing an additional 7,968 shares during the last quarter. Finally, Brookstone Capital Management grew its position in Diageo by 23.9% in the 2nd quarter. Brookstone Capital Management now owns 2,542 shares of the company’s stock worth $333,000 after purchasing an additional 491 shares during the period. 8.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DEO shares. Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. The Goldman Sachs Group downgraded Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Finally, Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Diageo has a consensus rating of “Hold” and a consensus target price of $2,950.00.

Diageo Stock Performance

Shares of DEO stock traded down $1.73 during mid-day trading on Friday, reaching $128.62. 616,778 shares of the company’s stock traded hands, compared to its average volume of 764,293. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.65 and a current ratio of 1.58. The firm has a 50 day moving average price of $128.41 and a two-hundred day moving average price of $138.47. The firm has a market capitalization of $71.50 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 3.55 and a beta of 0.67. Diageo plc has a 12 month low of $119.48 and a 12 month high of $171.07.

Diageo Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 17th. Investors of record on Friday, August 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a dividend yield of 3.2%. Diageo’s dividend payout ratio (DPR) is presently 71.37%.

Diageo Profile

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