Whittier Trust Co. Cuts Holdings in Diageo plc $DEO

Whittier Trust Co. trimmed its holdings in shares of Diageo plc (NYSE:DEO) by 12.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,001 shares of the company’s stock after selling 1,335 shares during the period. Whittier Trust Co.’s holdings in Diageo were worth $908,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Philip James Wealth Mangement LLC boosted its stake in Diageo by 81.8% during the 2nd quarter. Philip James Wealth Mangement LLC now owns 33,107 shares of the company’s stock valued at $3,338,000 after purchasing an additional 14,895 shares during the last quarter. Martin Capital Partners LLC boosted its stake in Diageo by 225.8% during the 2nd quarter. Martin Capital Partners LLC now owns 32,525 shares of the company’s stock valued at $3,280,000 after purchasing an additional 22,542 shares during the last quarter. Carnegie Investment Counsel boosted its stake in Diageo by 2,331.0% during the 1st quarter. Carnegie Investment Counsel now owns 41,036 shares of the company’s stock valued at $4,178,000 after purchasing an additional 39,348 shares during the last quarter. Virtu Financial LLC purchased a new stake in Diageo during the 1st quarter valued at $4,265,000. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in shares of Diageo in the 2nd quarter worth $107,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently 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. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Finally, Bank of America dropped their price target on Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a research note on Friday, September 26th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $119.00.

Diageo Price Performance

Shares of Diageo stock opened at $96.88 on Friday. Diageo plc has a one year low of $93.42 and a one year high of $135.16. The stock’s fifty day moving average is $102.31 and its 200 day moving average is $105.54. The stock has a market cap of $53.92 billion, a P/E ratio of 14.14, a P/E/G ratio of 4.33 and a beta of 0.58. 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 Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be issued a $2.5192 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a yield of 516.0%. This is an increase from Diageo’s previous semi-annual dividend of $1.62. Diageo’s payout ratio is 72.41%.

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.