Kennon Green & Company LLC Takes Position in Diageo plc (NYSE:DEO)

Kennon Green & Company LLC acquired a new position in shares of Diageo plc (NYSE:DEO) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,779 shares of the company’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in Diageo by 7.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after purchasing an additional 74,745 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Diageo by 13.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 154,577 shares of the company’s stock valued at $19,489,000 after buying an additional 18,204 shares during the period. Thoroughbred Financial Services LLC lifted its holdings in shares of Diageo by 16.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 6,502 shares of the company’s stock valued at $819,000 after acquiring an additional 942 shares in the last quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its stake in shares of Diageo by 2.5% during the second quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 15,357 shares of the company’s stock worth $1,936,000 after purchasing an additional 375 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new position in Diageo during the 2nd quarter worth approximately $1,116,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DEO has been the subject of a number of analyst reports. Citigroup raised shares of Diageo from a “neutral” rating to a “buy” rating in a research 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. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada upgraded shares of 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 given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Diageo presently has an average rating of “Hold”.

Diageo Trading Down 0.9 %

NYSE DEO opened at $132.11 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. Diageo plc has a 12 month low of $119.48 and a 12 month high of $161.64. The company’s 50 day simple moving average is $128.86 and its 200 day simple moving average is $135.98.

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 dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a yield of 3.2%.

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.