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

Prio Wealth Limited Partnership lessened its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 21.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 43,902 shares of the company's stock after selling 11,906 shares during the quarter. Prio Wealth Limited Partnership's holdings in Diageo were worth $5,535,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Confluence Investment Management LLC bought a new stake in Diageo during the 1st quarter worth approximately $125,474,000. Bank of Montreal Can boosted its position in Diageo by 1,034.5% during the second quarter. Bank of Montreal Can now owns 799,652 shares of the company's stock worth $104,443,000 after purchasing an additional 729,166 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in shares of Diageo by 4,665.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 482,713 shares of the company's stock worth $70,312,000 after buying an additional 472,583 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Diageo by 416.0% during 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. Finally, Wellington Management Group LLP lifted its stake in Diageo by 56.7% during the fourth quarter. Wellington Management Group LLP now owns 677,478 shares of the company's stock worth $98,681,000 after purchasing an additional 245,255 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on DEO shares. 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 report on Friday, July 12th. Royal Bank of Canada upgraded Diageo from an "underperform" rating to a "sector perform" rating in a research report on Monday, August 12th. Finally, Citigroup raised shares of Diageo from a "neutral" rating to a "buy" rating in a research note on Wednesday, July 3rd. 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

Diageo Trading Down 0.5 %

Shares of NYSE DEO traded down $0.67 during midday trading on Wednesday, hitting $139.22. The company's stock had a trading volume of 883,573 shares, compared to its average volume of 780,097. The firm has a market cap of $77.39 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 3.80 and a beta of 0.69. Diageo plc has a 12-month low of $119.48 and a 12-month high of $161.64. The business's 50 day moving average is $130.49 and its two-hundred day moving average is $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.

Diageo Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, August 30th will be issued a $1.62 dividend. 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 72.40%.

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.