D.A. Davidson & CO. Has $3.45 Million Stake in Diageo plc $DEO

D.A. Davidson & CO. trimmed its position in shares of Diageo plc (NYSE:DEO) by 1.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,228 shares of the company’s stock after selling 507 shares during the quarter. D.A. Davidson & CO.’s holdings in Diageo were worth $3,452,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in Diageo by 3.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,441,300 shares of the company’s stock valued at $151,034,000 after buying an additional 42,740 shares during the last quarter. Confluence Investment Management LLC raised its position in Diageo by 14.0% in the 2nd quarter. Confluence Investment Management LLC now owns 1,350,826 shares of the company’s stock valued at $136,217,000 after buying an additional 165,839 shares during the last quarter. Raymond James Financial Inc. raised its position in Diageo by 9.8% in the 1st quarter. Raymond James Financial Inc. now owns 1,069,567 shares of the company’s stock valued at $112,080,000 after buying an additional 95,037 shares during the last quarter. LPL Financial LLC raised its position in Diageo by 2.2% in the 1st quarter. LPL Financial LLC now owns 434,735 shares of the company’s stock valued at $45,556,000 after buying an additional 9,306 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its position in Diageo by 11.7% in the 2nd quarter. Douglas Lane & Associates LLC now owns 419,290 shares of the company’s stock valued at $42,281,000 after buying an additional 44,011 shares during the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Trading Down 0.7%

Shares of Diageo stock opened at $96.19 on Friday. Diageo plc has a 1 year low of $93.42 and a 1 year high of $134.71. The firm has a market cap of $53.54 billion, a PE ratio of 14.04, a P/E/G ratio of 4.29 and a beta of 0.58. The stock has a fifty day moving average price of $102.01 and a 200-day moving average price of $105.50. 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 Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be paid a dividend of $2.5192 per share. This represents a dividend yield of 516.0%. The ex-dividend date is Friday, October 17th. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. Diageo’s dividend payout ratio is currently 72.41%.

Wall Street Analysts Forecast Growth

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