Kornitzer Capital Management Inc. KS Sells 350 Shares of Diageo plc $DEO

Kornitzer Capital Management Inc. KS reduced its stake in shares of Diageo plc (NYSE:DEO) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 20,295 shares of the company’s stock after selling 350 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Diageo were worth $2,047,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its position in shares of Diageo by 1,544.5% during the first quarter. BNP Paribas Financial Markets now owns 396,676 shares of the company’s stock valued at $41,568,000 after buying an additional 372,555 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in Diageo in the 1st quarter valued at approximately $36,050,000. Confluence Investment Management LLC lifted its position in shares of Diageo by 14.0% in the 2nd quarter. Confluence Investment Management LLC now owns 1,350,826 shares of the company’s stock worth $136,217,000 after acquiring an additional 165,839 shares during the period. Crestwood Advisors Group LLC acquired a new stake in shares of Diageo during the 1st quarter worth approximately $16,944,000. Finally, Partners Capital Investment Group LLP bought a new stake in shares of Diageo during the first quarter valued at approximately $4,161,000. 8.97% of the stock is owned by institutional investors.

Diageo Stock Down 0.7%

NYSE:DEO opened at $96.19 on Monday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. Diageo plc has a 12 month low of $93.42 and a 12 month high of $134.71. The company’s 50-day moving average price is $102.01 and its two-hundred day moving average price is $105.51.

Diageo Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Investors 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 yield of 516.0%.

Analysts Set New Price Targets

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