Prime Capital Investment Advisors LLC Lowers Stock Position in Diageo plc (NYSE:DEO)

Prime Capital Investment Advisors LLC reduced its position in Diageo plc (NYSE:DEO) by 5.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 21,475 shares of the company’s stock after selling 1,358 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Diageo were worth $2,708,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kennon Green & Company LLC acquired a new position in shares of Diageo in the 2nd quarter valued at about $224,000. Envestnet Asset Management Inc. grew its stake in Diageo by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock worth $142,165,000 after buying an additional 74,745 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Diageo by 13.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 154,577 shares of the company’s stock worth $19,489,000 after acquiring an additional 18,204 shares in the last quarter. Thoroughbred Financial Services LLC increased its holdings in Diageo by 16.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 6,502 shares of the company’s stock valued at $819,000 after purchasing an additional 942 shares in the last quarter. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. grew its stake in shares of Diageo by 2.5% in the second quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 15,357 shares of the company’s stock valued at $1,936,000 after buying an additional 375 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DEO shares. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. The Goldman Sachs Group cut shares of Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Finally, Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Diageo presently has an average rating of “Hold”.

Diageo Stock Up 0.6 %

DEO opened at $132.93 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. Diageo plc has a 12-month low of $119.48 and a 12-month high of $161.64. The firm’s fifty day moving average price is $128.96 and its 200 day moving average price is $135.73.

Diageo Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, August 30th will be issued a dividend of $1.62 per share. This represents a yield of 3.2%. The ex-dividend date is Friday, August 30th.

About Diageo

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.