McGinn Penninger Investment Management Inc. Increases Holdings in Diageo plc (NYSE:DEO)

McGinn Penninger Investment Management Inc. increased its stake in shares of Diageo plc (NYSE:DEO) by 0.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,627 shares of the company’s stock after purchasing an additional 135 shares during the period. Diageo accounts for 2.7% of McGinn Penninger Investment Management Inc.’s investment portfolio, making the stock its 22nd largest position. McGinn Penninger Investment Management Inc.’s holdings in Diageo were worth $3,988,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado grew its holdings in shares of Diageo by 4,665.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 482,713 shares of the company’s stock worth $70,312,000 after purchasing an additional 472,583 shares in the last quarter. Beacon Financial Group purchased a new position in Diageo in the 4th quarter worth approximately $296,000. 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 worth $98,681,000 after buying an additional 245,255 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Diageo by 16.4% in the 1st quarter. QRG Capital Management Inc. now owns 7,185 shares of the company’s stock worth $1,069,000 after buying an additional 1,011 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Diageo by 461.4% during the 1st quarter. Cetera Investment Advisers now owns 70,630 shares of the company’s stock valued at $10,506,000 after buying an additional 58,048 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Diageo Trading Down 0.3 %

Shares of DEO opened at $140.36 on Tuesday. The stock has a market capitalization of $78.02 billion, a P/E ratio of 20.28, a PEG ratio of 3.80 and a beta of 0.69. Diageo plc has a twelve month low of $119.48 and a twelve month high of $161.64. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. The firm has a fifty day simple moving average of $130.27 and a two-hundred day simple moving average of $134.80.

Diageo Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, August 30th. This represents a dividend yield of 3.2%. Diageo’s dividend payout ratio is currently 72.40%.

Analysts Set New Price Targets

A number of equities 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 report on Monday, August 12th. Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. The Goldman Sachs Group downgraded Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Finally, Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Diageo currently 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.