McElhenny Sheffield Capital Management LLC Purchases Shares of 107,000 Diageo plc $DEO

McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Diageo plc (NYSE:DEO) in the second quarter, HoldingsChannel.com reports. The firm purchased 107,000 shares of the company’s stock, valued at approximately $107,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in Diageo by 16.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company’s stock worth $14,488,000 after buying an additional 19,327 shares during the period. Philip James Wealth Mangement LLC grew its stake in Diageo by 81.8% during the second quarter. Philip James Wealth Mangement LLC now owns 33,107 shares of the company’s stock worth $3,338,000 after buying an additional 14,895 shares during the period. Martin Capital Partners LLC boosted its position in Diageo by 225.8% during the 2nd quarter. Martin Capital Partners LLC now owns 32,525 shares of the company’s stock worth $3,280,000 after purchasing an additional 22,542 shares during the period. Carnegie Investment Counsel boosted its position in Diageo by 2,331.0% during the 1st quarter. Carnegie Investment Counsel now owns 41,036 shares of the company’s stock worth $4,178,000 after purchasing an additional 39,348 shares during the period. Finally, Sowell Financial Services LLC purchased a new stake in Diageo during the 1st quarter worth $262,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Trading Down 0.3%

NYSE DEO opened at $95.45 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64. Diageo plc has a 12 month low of $93.42 and a 12 month high of $139.96. The company’s fifty day moving average price is $104.30 and its two-hundred day moving average price is $106.11. The company has a market capitalization of $53.10 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 3.43 and a beta of 0.58.

Diageo Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, October 17th. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. This represents a dividend yield of 370.0%. Diageo’s dividend payout ratio is 46.42%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research report on Wednesday. Bank of America decreased their price target on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a report on Friday, September 26th. Finally, The Goldman Sachs Group upgraded Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $119.00.

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.