Summit Trail Advisors LLC Boosts Stock Position in Diageo plc (NYSE:DEO)

Summit Trail Advisors LLC increased its position in Diageo plc (NYSE:DEO) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,654 shares of the company’s stock after acquiring an additional 410 shares during the quarter. Summit Trail Advisors LLC’s holdings in Diageo were worth $461,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DEO. Public Employees Retirement Association of Colorado raised its position in shares of Diageo by 4,665.2% during 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 purchasing an additional 472,583 shares during the period. Beacon Financial Group purchased a new position in shares of Diageo in the fourth quarter valued at about $296,000. Wellington Management Group LLP boosted its stake in shares of Diageo by 56.7% in the fourth quarter. Wellington Management Group LLP now owns 677,478 shares of the company’s stock worth $98,681,000 after acquiring an additional 245,255 shares during the period. QRG Capital Management Inc. grew its position in shares of Diageo by 16.4% during the first quarter. QRG Capital Management Inc. now owns 7,185 shares of the company’s stock worth $1,069,000 after purchasing an additional 1,011 shares in the last quarter. Finally, 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 purchasing an additional 58,048 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Diageo Trading Up 1.9 %

Shares of DEO opened at $135.58 on Tuesday. Diageo plc has a fifty-two week low of $119.48 and a fifty-two week high of $161.64. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. The company’s fifty day moving average is $129.41 and its 200 day moving average is $135.20. The stock has a market capitalization of $75.36 billion, a PE ratio of 19.65, a P/E/G ratio of 3.84 and a beta of 0.69.

Diageo Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DEO shares. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, The Goldman Sachs Group lowered Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Three research 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’s stock. According to data from MarketBeat, the stock presently 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.