Causeway Capital Management LLC Has $32.14 Million Holdings in Diageo plc $DEO

Key Points

• Causeway Capital Management LLC increased its holdings in Diageo plc by 4.0% in the first quarter, owning approximately 0.06% of the company, valued at $32.14 million.
• Diageo's board announced a dividend increase to $2.5192 per share, with a dividend yield of 370.0%, marking a positive change from the previous semi-annual dividend of $1.62.
• Research analysts have mixed ratings on Diageo, with a consensus rating of "Hold" and a price target of $129.00, reflecting varying opinions on the stock's future performance.

Causeway Capital Management LLC grew its position in shares of Diageo plc (NYSE:DEO - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 306,666 shares of the company's stock after buying an additional 11,903 shares during the quarter. Causeway Capital Management LLC owned approximately 0.06% of Diageo worth $32,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in Diageo in the fourth quarter worth approximately $25,000. Perkins Coie Trust Co bought a new position in Diageo during the first quarter valued at about $27,000. Barrett & Company Inc. acquired a new stake in shares of Diageo in the first quarter worth about $27,000. Abound Financial LLC bought a new stake in shares of Diageo during the 1st quarter worth about $27,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Diageo during the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 8.97% of the company's stock.

Diageo Trading Down 1.4%

Shares of Diageo stock opened at $113.66 on Tuesday. Diageo plc has a 1 year low of $96.45 and a 1 year high of $142.73. The company's fifty day simple moving average is $105.20 and its 200-day simple moving average is $107.77. The company has a market cap of $63.23 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 4.11 and a beta of 0.53. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64.

Diageo Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be issued a dividend of $2.5192 per share. This represents a dividend yield of 370.0%. The ex-dividend date is Friday, October 17th. This is a positive change from Diageo's previous semi-annual dividend of $1.62. Diageo's payout ratio is presently 72.55%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. The Goldman Sachs Group raised Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Diageo presently has a consensus rating of "Hold" and a consensus price target of $129.00.

Diageo 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.

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