Diageo plc $DEO Stock Position Trimmed by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC has reduced its stake in Diageo plc by 2.4%, now holding approximately $50.85 million worth of the company's stock.
• Diageo recently announced a substantial increase in its semi-annual dividend, raising it from $1.62 to $2.5192 per share, reflecting a dividend yield of 370.0%.
• The stock has received updates in analyst ratings, with Goldman Sachs upgrading it to "neutral" and a consensus rating of "Hold" with a target price of $129.00.

Cambiar Investors LLC trimmed its position in shares of Diageo plc (NYSE:DEO - Free Report) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,258 shares of the company's stock after selling 11,764 shares during the period. Diageo makes up 2.2% of Cambiar Investors LLC's portfolio, making the stock its 11th biggest position. Cambiar Investors LLC owned 0.09% of Diageo worth $50,850,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC grew its holdings in Diageo by 234.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company's stock worth $330,627,000 after acquiring an additional 1,822,994 shares in the last quarter. Royal Bank of Canada grew its holdings in Diageo by 0.3% during the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock worth $195,883,000 after acquiring an additional 3,876 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Diageo by 3.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,441,300 shares of the company's stock worth $151,034,000 after acquiring an additional 42,740 shares in the last quarter. Confluence Investment Management LLC grew its holdings in Diageo by 0.7% during the 1st quarter. Confluence Investment Management LLC now owns 1,184,987 shares of the company's stock worth $124,175,000 after acquiring an additional 8,521 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in Diageo by 9.8% during the 1st quarter. Raymond James Financial Inc. now owns 1,069,567 shares of the company's stock worth $112,080,000 after acquiring an additional 95,037 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DEO has been the subject of several recent 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 reissued an "underweight" rating on shares of Diageo in a report 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 company's stock. According to MarketBeat, Diageo currently has a consensus rating of "Hold" and an average target price of $129.00.

Diageo Stock Performance

Shares of NYSE DEO traded up $1.1050 during midday trading on Friday, hitting $115.5050. The company's stock had a trading volume of 639,496 shares, compared to its average volume of 1,122,062. The firm has a market cap of $64.26 billion, a P/E ratio of 16.86, a P/E/G ratio of 4.11 and a beta of 0.53. The firm's fifty day moving average price is $104.78 and its 200-day moving average price is $107.81. Diageo plc has a 1-year low of $96.45 and a 1-year high of $142.73. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.67 and a current ratio of 1.63.

Diageo Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be given a $2.5192 dividend. The ex-dividend date is Friday, October 17th. This represents a yield of 370.0%. This is a boost from Diageo's previous semi-annual dividend of $1.62. Diageo's 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.