ProVise Management Group LLC Reduces Stock Position in Diageo plc (NYSE:DEO)

ProVise Management Group LLC cut its holdings in shares of Diageo plc (NYSE:DEO) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,688 shares of the company’s stock after selling 90 shares during the quarter. ProVise Management Group LLC’s holdings in Diageo were worth $339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Confluence Investment Management LLC bought a new stake in shares of Diageo in the 1st quarter valued at approximately $125,474,000. Public Employees Retirement Association of Colorado increased its holdings in shares of Diageo by 4,665.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 482,713 shares of the company’s stock valued at $70,312,000 after acquiring an additional 472,583 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Diageo by 416.0% in the 2nd quarter. Hsbc Holdings PLC now owns 521,920 shares of the company’s stock valued at $65,939,000 after acquiring an additional 420,778 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Diageo by 56.7% in the 4th quarter. Wellington Management Group LLP now owns 677,478 shares of the company’s stock valued at $98,681,000 after acquiring an additional 245,255 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Diageo by 12,174.6% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 246,229 shares of the company’s stock valued at $31,045,000 after acquiring an additional 244,223 shares during the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Trading Down 2.1 %

Shares of DEO stock opened at $133.03 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. Diageo plc has a 1 year low of $119.48 and a 1 year high of $161.64. The stock has a fifty day moving average of $129.28 and a two-hundred day moving average of $135.47. The firm has a market capitalization of $73.95 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 3.84 and a beta of 0.69.

Diageo Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, August 30th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, August 30th. This represents a yield of 3.2%. Diageo’s dividend payout ratio (DPR) is presently 72.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. The Goldman Sachs Group lowered Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Finally, Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Diageo Company 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.