Diageo plc $DEO Stake Cut by Kestra Advisory Services LLC

Kestra Advisory Services LLC cut its position in shares of Diageo plc (NYSE:DEO) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,948 shares of the company’s stock after selling 1,017 shares during the quarter. Kestra Advisory Services LLC’s holdings in Diageo were worth $2,929,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in Diageo by 3.6% during the first quarter. Venturi Wealth Management LLC now owns 2,582 shares of the company’s stock worth $271,000 after purchasing an additional 89 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in Diageo by 5.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,867 shares of the company’s stock valued at $237,000 after buying an additional 95 shares during the last quarter. Grove Bank & Trust lifted its stake in Diageo by 1.3% in the first quarter. Grove Bank & Trust now owns 7,560 shares of the company’s stock valued at $792,000 after buying an additional 98 shares during the last quarter. Malaga Cove Capital LLC lifted its stake in Diageo by 3.3% in the fourth quarter. Malaga Cove Capital LLC now owns 3,101 shares of the company’s stock valued at $394,000 after buying an additional 100 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. lifted its stake in Diageo by 3.2% in the first quarter. Pinnacle West Asset Management Inc. now owns 3,240 shares of the company’s stock valued at $340,000 after buying an additional 100 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have 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. Morgan Stanley reiterated an “underweight” rating on shares of Diageo in a research note on Monday, May 12th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Diageo has a consensus rating of “Hold” and a consensus target price of $129.00.

Diageo Price Performance

Shares of DEO opened at $112.02 on Thursday. The firm has a market capitalization of $62.32 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 3.96 and a beta of 0.53. 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 one year low of $96.45 and a one year high of $142.73. The stock’s fifty day moving average is $105.58 and its 200-day moving average is $107.83.

Diageo Increases Dividend

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

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.