Diageo plc (NYSE:DEO) Shares Sold by Kennedy Investment Group

Kennedy Investment Group trimmed its holdings in Diageo plc (NYSE:DEO) by 1.2% during the third quarter, Holdings Channel reports. The institutional investor owned 18,692 shares of the company’s stock after selling 233 shares during the period. Diageo makes up 1.2% of Kennedy Investment Group’s portfolio, making the stock its 19th biggest holding. Kennedy Investment Group’s holdings in Diageo were worth $2,623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Clearbridge Investments LLC boosted its position in shares of Diageo by 7.0% in the first quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock worth $349,785,000 after acquiring an additional 154,497 shares during the last quarter. Markel Group Inc. grew its stake in shares of Diageo by 0.5% during the 2nd quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock valued at $172,315,000 after buying an additional 6,300 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Diageo by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after buying an additional 74,745 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Diageo by 2.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock worth $139,504,000 after buying an additional 23,435 shares during the last quarter. Finally, Confluence Investment Management LLC raised its position in shares of Diageo by 10.5% in the 2nd quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock worth $117,474,000 after buying an additional 88,159 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Down 1.4 %

Shares of Diageo stock traded down $1.95 during trading on Monday, reaching $137.46. The company had a trading volume of 298,759 shares, compared to its average volume of 765,123. The company has a market cap of $76.41 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 3.77 and a beta of 0.69. Diageo plc has a fifty-two week low of $119.48 and a fifty-two week high of $161.64. The firm’s fifty day moving average is $133.30 and its 200-day moving average is $133.73. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53.

Diageo Dividend Announcement

The company also recently announced a semi-annual dividend, which was paid on Thursday, October 17th. Shareholders of record on Friday, August 30th were issued a dividend of $1.62 per share. This represents a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 30th. Diageo’s dividend payout ratio is presently 71.37%.

Analyst Ratings Changes

DEO has been the subject of several research analyst reports. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Finally, The Goldman Sachs Group downgraded Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Diageo currently has a consensus rating of “Hold”.

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.