Diageo plc (NYSE:DEO) Shares Sold by GSB Wealth Management LLC

GSB Wealth Management LLC cut its stake in shares of Diageo plc (NYSE:DEO) by 22.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,441 shares of the company’s stock after selling 2,476 shares during the quarter. GSB Wealth Management LLC’s holdings in Diageo were worth $1,185,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Mutual Advisors LLC boosted its stake in shares of Diageo by 6.3% during the 3rd quarter. Mutual Advisors LLC now owns 12,326 shares of the company’s stock worth $1,657,000 after acquiring an additional 733 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Diageo by 4.7% in the third quarter. Farmers & Merchants Investments Inc. now owns 2,542 shares of the company’s stock valued at $357,000 after purchasing an additional 114 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of Diageo during the third quarter valued at approximately $501,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Diageo by 127.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,117 shares of the company’s stock valued at $588,000 after acquiring an additional 2,307 shares during the last quarter. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Diageo during the 3rd quarter valued at about $200,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of DEO stock opened at $128.26 on Wednesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. The stock has a market capitalization of $71.35 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 3.84 and a beta of 0.69. Diageo plc has a one year low of $119.48 and a one year high of $161.64. The company’s 50-day simple moving average is $134.14 and its 200-day simple moving average is $133.32.

Diageo Announces Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, October 17th. Stockholders of record on Friday, August 30th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a dividend yield of 3.2%. Diageo’s dividend payout ratio (DPR) is 71.37%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DEO. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. The Goldman Sachs Group lowered Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Finally, Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

About Diageo

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.