Prio Wealth Limited Partnership Decreases Position in Diageo plc (NYSE:DEO)

Prio Wealth Limited Partnership cut its stake in shares of Diageo plc (NYSE:DEO) by 21.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,902 shares of the company’s stock after selling 11,906 shares during the period. Prio Wealth Limited Partnership’s holdings in Diageo were worth $5,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of DEO. Scarborough Advisors LLC bought a new position in shares of Diageo during the fourth quarter valued at approximately $25,000. Triad Wealth Partners LLC bought a new position in Diageo in the second quarter worth approximately $25,000. 1620 Investment Advisors Inc. bought a new position in Diageo in the second quarter worth approximately $25,000. Concord Wealth Partners bought a new position in Diageo in the first quarter worth approximately $29,000. Finally, Beacon Capital Management LLC grew its stake in Diageo by 777.3% in the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after purchasing an additional 171 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

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

Diageo Stock Performance

Shares of DEO opened at $139.92 on Wednesday. Diageo plc has a 12 month low of $119.48 and a 12 month high of $161.64. The stock has a fifty day moving average price of $130.49 and a 200-day moving average price of $134.74. 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 firm has a market cap of $77.78 billion, a PE ratio of 20.22, a P/E/G ratio of 3.80 and a beta of 0.69.

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. The ex-dividend date of this dividend is Friday, August 30th. This represents a yield of 3.2%. Diageo’s dividend payout ratio (DPR) is 72.40%.

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.