BNP Paribas Financial Markets Buys 372,555 Shares of Diageo plc $DEO

Key Points

• BNP Paribas Financial Markets significantly increased its stake in Diageo plc by acquiring 372,555 shares, raising its total holdings to 396,676 shares valued at approximately $41.57 million.
• Diageo announced a substantial increase in its semi-annual dividend to $2.5192 per share, reflecting a dividend yield of 370.0%.
• The company's current consensus rating is a "Hold" with a target price of $129.00, as indicated by various research reports.

BNP Paribas Financial Markets increased its position in shares of Diageo plc (NYSE:DEO - Free Report) by 1,544.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 396,676 shares of the company's stock after acquiring an additional 372,555 shares during the period. BNP Paribas Financial Markets owned approximately 0.07% of Diageo worth $41,568,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of DEO. Orion Capital Management LLC bought a new position in shares of Diageo in the 4th quarter worth $25,000. Perkins Coie Trust Co bought a new position in shares of Diageo in the 1st quarter worth $27,000. Barrett & Company Inc. bought a new position in shares of Diageo in the 1st quarter worth $27,000. Abound Financial LLC bought a new position in shares of Diageo in the 1st quarter worth $27,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Diageo in the 1st quarter worth $30,000. Institutional investors own 8.97% of the company's stock.

Analyst Upgrades and Downgrades

DEO has been the topic of a number of research analyst reports. The Goldman Sachs Group raised shares of Diageo from a "sell" rating to a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley reaffirmed an "underweight" rating on shares of Diageo in a report on Monday, May 12th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Diageo presently has an average rating of "Hold" and a consensus target price of $129.00.

Diageo Trading Down 0.2%

Shares of NYSE:DEO traded down $0.27 on Thursday, hitting $109.75. The company had a trading volume of 717,450 shares, compared to its average volume of 1,111,200. The firm's 50-day simple moving average is $106.64 and its two-hundred day simple moving average is $107.94. Diageo plc has a 1 year low of $96.45 and a 1 year high of $142.73. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $61.06 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 3.96 and a beta of 0.59.

Diageo Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be given a dividend of $2.5192 per share. This is an increase from Diageo's previous semi-annual dividend of $1.62. The ex-dividend date of this dividend is Friday, October 17th. This represents a yield of 370.0%. Diageo's dividend payout ratio is 72.55%.

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.