Narwhal Capital Management Reduces Holdings in Diageo plc (NYSE:DEO)

Narwhal Capital Management reduced its position in Diageo plc (NYSE:DEO) by 9.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,585 shares of the company’s stock after selling 1,795 shares during the period. Narwhal Capital Management’s holdings in Diageo were worth $2,468,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DEO. QRG Capital Management Inc. boosted its holdings in Diageo by 16.4% in the first quarter. QRG Capital Management Inc. now owns 7,185 shares of the company’s stock valued at $1,069,000 after purchasing an additional 1,011 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Diageo by 461.4% during the first quarter. Cetera Investment Advisers now owns 70,630 shares of the company’s stock worth $10,506,000 after buying an additional 58,048 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Diageo by 2,128.6% in the first quarter. Geneos Wealth Management Inc. now owns 9,494 shares of the company’s stock worth $1,412,000 after buying an additional 9,068 shares during the last quarter. American National Bank & Trust Co. VA acquired a new stake in Diageo in the first quarter valued at $4,432,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Diageo by 6.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 107,452 shares of the company’s stock valued at $15,982,000 after acquiring an additional 6,927 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Stock Down 0.3 %

NYSE:DEO opened at $136.71 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. The stock has a 50 day moving average of $133.72 and a 200-day moving average of $133.61. The firm has a market capitalization of $75.99 billion, a PE ratio of 19.47, 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.

Diageo Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.