Stock Yards Bank & Trust Co. Cuts Stock Holdings in Diageo plc $DEO

Stock Yards Bank & Trust Co. decreased its stake in shares of Diageo plc (NYSE:DEO) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,295 shares of the company’s stock after selling 329 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Diageo were worth $433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of DEO. Perkins Coie Trust Co purchased a new position in Diageo in the first quarter worth $27,000. Barrett & Company Inc. bought a new stake in shares of Diageo during the 1st quarter valued at $27,000. Abound Financial LLC bought a new stake in shares of Diageo during the 1st quarter valued at $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Diageo during the 1st quarter valued at $30,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Diageo during the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

NYSE:DEO opened at $96.17 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. The stock has a market cap of $53.50 billion, a P/E ratio of 14.04, a PEG ratio of 3.45 and a beta of 0.58. The business’s 50-day moving average price is $104.86 and its two-hundred day moving average price is $106.43. Diageo plc has a twelve month low of $93.42 and a twelve month high of $139.96.

Diageo Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be given a dividend of $2.5192 per share. This is a boost from Diageo’s previous semi-annual dividend of $1.62. The ex-dividend date is Friday, October 17th. This represents a dividend yield of 370.0%. Diageo’s dividend payout ratio is currently 46.42%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group upgraded Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a report on Saturday, September 27th. Finally, Bank of America lowered their price target on Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $119.00.

About Diageo

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.