Diageo plc (NYSE:DEO) Stake Trimmed by CORDA Investment Management LLC.

CORDA Investment Management LLC. reduced its holdings in shares of Diageo plc (NYSE:DEO) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 216,017 shares of the company’s stock after selling 2,898 shares during the period. Diageo comprises 3.6% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 3rd largest holding. CORDA Investment Management LLC.’s holdings in Diageo were worth $41,408,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DEO. GPS Wealth Strategies Group LLC purchased a new stake in Diageo during the 2nd quarter worth approximately $38,000. Providence Capital Advisors LLC increased its stake in Diageo by 822.2% during the 1st quarter. Providence Capital Advisors LLC now owns 249 shares of the company’s stock worth $41,000 after buying an additional 222 shares during the period. Sageworth Trust Co acquired a new position in Diageo during the 1st quarter worth approximately $41,000. Red Door Wealth Management LLC acquired a new position in Diageo during the 2nd quarter worth approximately $41,000. Finally, First PREMIER Bank acquired a new position in Diageo during the 2nd quarter worth approximately $42,000. 9.85% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on DEO shares. Barclays reiterated an “overweight” rating on shares of Diageo in a report on Friday, July 30th. Argus upgraded shares of Diageo from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a report on Friday, June 4th. Royal Bank of Canada reiterated a “sector perform” rating on shares of Diageo in a report on Friday, July 30th. Morgan Stanley reiterated an “overweight” rating on shares of Diageo in a report on Thursday, August 5th. Finally, Citigroup restated a “neutral” rating on shares of Diageo in a report on Tuesday, June 22nd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Diageo presently has an average rating of “Buy” and a consensus target price of $189.12.

Shares of Diageo stock traded down $2.50 during trading hours on Monday, hitting $187.51. The company had a trading volume of 10,798 shares, compared to its average volume of 397,275. The company’s 50-day moving average is $194.73 and its two-hundred day moving average is $186.44. Diageo plc has a twelve month low of $127.12 and a twelve month high of $202.35. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.60 and a quick ratio of 0.76. The company has a market cap of $119.95 billion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 3.20 and a beta of 0.66.

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, October 13th. Investors of record on Friday, August 27th will be paid a dividend of $2.4803 per share. The ex-dividend date is Thursday, August 26th. This represents a yield of 1.8%. This is a boost from Diageo’s previous semi-annual dividend of $1.53. Diageo’s dividend payout ratio is currently 75.54%.

About Diageo

Diageo Plc engages in the production and distribution of alcoholic beverages. Its brands include Johnnie Walker, Crown Royal, JeB, Buchanan’s, Windsor and Bushmills whiskies, Smirnoff, Ciroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray, and Guinness. It operates through the following geographical segments: North America; Europe and Turkey; Africa; Latin America and Caribbean; Asia Pacific; ISC; and Corporate and Other.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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