Levin Capital Strategies L.P. Trims Holdings in Diageo plc (NYSE:DEO)

Levin Capital Strategies L.P. trimmed its position in Diageo plc (NYSE:DEO) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,884 shares of the company’s stock after selling 1,469 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Diageo were worth $10,828,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Choreo LLC raised its holdings in shares of Diageo by 207.6% in the 2nd quarter. Choreo LLC now owns 7,054 shares of the company’s stock valued at $888,000 after buying an additional 4,761 shares during the period. PFG Investments LLC grew its position in Diageo by 3.4% in the 2nd quarter. PFG Investments LLC now owns 2,516 shares of the company’s stock valued at $317,000 after acquiring an additional 83 shares in the last quarter. Pinnacle West Asset Management Inc. increased its stake in Diageo by 3.6% during the second quarter. Pinnacle West Asset Management Inc. now owns 2,590 shares of the company’s stock worth $327,000 after purchasing an additional 90 shares during the period. Arlington Partners LLC lifted its position in shares of Diageo by 153.7% during the second quarter. Arlington Partners LLC now owns 24,848 shares of the company’s stock worth $3,133,000 after purchasing an additional 15,054 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its position in shares of Diageo by 22.4% during the second quarter. Financial Gravity Asset Management Inc. now owns 12,256 shares of the company’s stock worth $1,543,000 after purchasing an additional 2,242 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Performance

Shares of DEO opened at $128.71 on Tuesday. The company has a market capitalization of $71.55 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 3.77 and a beta of 0.69. Diageo plc has a 52-week low of $119.48 and a 52-week high of $161.64. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. The stock has a 50 day moving average price of $128.68 and a 200 day moving average price of $136.50.

Diageo Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be issued 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 payout ratio is 72.71%.

Wall Street Analyst Weigh In

DEO has been the subject of a number of research reports. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. The Goldman Sachs Group lowered Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Finally, Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. 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. According to MarketBeat, Diageo 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.