Saybrook Capital NC Has $6.41 Million Stock Position in Diageo plc (NYSE:DEO)

Saybrook Capital NC reduced its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 17.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,688 shares of the company's stock after selling 9,437 shares during the quarter. Diageo accounts for about 1.8% of Saybrook Capital NC's holdings, making the stock its 16th biggest holding. Saybrook Capital NC's holdings in Diageo were worth $6,412,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. QRG Capital Management Inc. increased its holdings 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 buying an additional 1,011 shares in the last quarter. Cetera Investment Advisers raised its position in Diageo by 461.4% in the first quarter. Cetera Investment Advisers now owns 70,630 shares of the company's stock valued at $10,506,000 after purchasing an additional 58,048 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Diageo by 2,128.6% during the first quarter. Geneos Wealth Management Inc. now owns 9,494 shares of the company's stock valued at $1,412,000 after purchasing an additional 9,068 shares in the last quarter. American National Bank & Trust Co. VA bought a new stake in shares of Diageo during the first quarter worth about $4,432,000. Finally, Bleakley Financial Group LLC increased its stake in shares of Diageo by 346.5% in the first quarter. Bleakley Financial Group LLC now owns 25,524 shares of the company's stock valued at $3,796,000 after buying an additional 19,808 shares during the period. 8.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DEO shares. Citigroup raised shares of Diageo from a "neutral" rating to a "buy" rating in a report on Wednesday, July 3rd. Royal Bank of Canada upgraded Diageo from an "underperform" rating to a "sector perform" rating in a research report on Monday, August 12th. The Goldman Sachs Group lowered Diageo from a "neutral" rating to a "sell" rating in a research note on Friday, July 12th. Finally, Bank of America raised shares of Diageo from a "neutral" rating to a "buy" rating in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold".

Diageo Trading Down 1.9 %

Shares of Diageo stock traded down $2.50 on Wednesday, hitting $127.66. 567,278 shares of the company's stock traded hands, compared to its average volume of 754,974. The company has a market capitalization of $71.01 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 3.84 and a beta of 0.69. The company has a fifty day moving average of $134.14 and a two-hundred day moving average of $133.32. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. Diageo plc has a one year low of $119.48 and a one year high of $161.64.

Diageo Announces Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, October 17th. Stockholders of record on Friday, August 30th were given a dividend of $1.62 per share. This represents a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 30th. Diageo's dividend payout ratio (DPR) is 71.37%.

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.