Pinnacle Associates Ltd. Cuts Position in Diageo plc (NYSE:DEO)

Pinnacle Associates Ltd. cut its stake in Diageo plc (NYSE:DEO) by 46.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,192 shares of the company’s stock after selling 35,366 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Diageo were worth $7,098,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in DEO. Thoroughbred Financial Services LLC increased its holdings in shares of Diageo by 17,346.3% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,660,188 shares of the company’s stock valued at $166,019,000 after acquiring an additional 1,650,672 shares during the period. FMR LLC boosted its position in shares of Diageo by 586.2% in the 1st quarter. FMR LLC now owns 309,135 shares of the company’s stock worth $50,578,000 after purchasing an additional 264,083 shares in the last quarter. Schafer Cullen Capital Management Inc boosted its position in shares of Diageo by 24.5% in the 2nd quarter. Schafer Cullen Capital Management Inc now owns 1,175,258 shares of the company’s stock worth $200,099,000 after purchasing an additional 231,125 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Diageo by 393.1% in the 1st quarter. Lazard Asset Management LLC now owns 238,339 shares of the company’s stock worth $38,994,000 after purchasing an additional 190,003 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Diageo by 11.3% in the 1st quarter. Northern Trust Corp now owns 844,162 shares of the company’s stock worth $138,113,000 after purchasing an additional 85,578 shares in the last quarter. Institutional investors and hedge funds own 10.52% of the company’s stock.

Shares of Diageo stock traded up $0.87 during trading on Tuesday, reaching $167.73. The company’s stock had a trading volume of 14,193 shares, compared to its average volume of 418,441. The company has a quick ratio of 0.56, a current ratio of 1.34 and a debt-to-equity ratio of 1.06. The company has a market cap of $102.45 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 2.89 and a beta of 0.47. Diageo plc has a 1-year low of $131.43 and a 1-year high of $176.07. The company has a 50-day simple moving average of $168.47 and a two-hundred day simple moving average of $165.28.



The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Friday, August 9th will be given a $2.111 dividend. This is a boost from Diageo’s previous Semi-Annual dividend of $0.19. The ex-dividend date is Thursday, August 8th. Diageo’s dividend payout ratio (DPR) is presently 62.52%.

A number of analysts have recently weighed in on DEO shares. Zacks Investment Research raised Diageo from a “sell” rating to a “hold” rating and set a $178.00 price objective for the company in a research report on Monday, May 27th. Kepler Capital Markets cut Diageo from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $178.00.

Diageo Profile

Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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