Diageo plc (NYSE:DEO) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC lowered its stake in shares of Diageo plc (NYSE:DEO) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,792 shares of the company’s stock after selling 100 shares during the quarter. KCM Investment Advisors LLC’s holdings in Diageo were worth $226,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Diageo during the 4th quarter valued at approximately $15,391,000. Yousif Capital Management LLC raised its stake in Diageo by 6.6% in the 4th quarter. Yousif Capital Management LLC now owns 9,866 shares of the company’s stock worth $1,437,000 after acquiring an additional 615 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in Diageo by 1.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 9,670 shares of the company’s stock worth $1,409,000 after acquiring an additional 155 shares during the period. Russell Investments Group Ltd. grew its stake in Diageo by 20.2% during the 4th quarter. Russell Investments Group Ltd. now owns 796 shares of the company’s stock valued at $116,000 after purchasing an additional 134 shares during the last quarter. Finally, MONECO Advisors LLC increased its holdings in shares of Diageo by 12.1% in the fourth quarter. MONECO Advisors LLC now owns 1,627 shares of the company’s stock valued at $237,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Diageo Stock Performance

NYSE:DEO traded down $2.75 during trading hours on Friday, reaching $130.78. The company had a trading volume of 791,888 shares, compared to its average volume of 772,835. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 0.65. Diageo plc has a 1-year low of $119.48 and a 1-year high of $171.07. The business’s 50 day moving average price is $128.59 and its 200-day moving average price is $137.56. The firm has a market cap of $72.70 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 3.55 and a beta of 0.67.

Diageo Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Investors of record on Friday, August 30th will be paid a $1.62 dividend. This represents a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 30th. Diageo’s dividend payout ratio is currently 71.37%.

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.