Citigroup Inc. Lowers Stake in Diageo plc $DEO

Key Points

• Citigroup Inc. reduced its holdings in Diageo plc by 11.9% in the first quarter, now owning 106,333 shares valued at approximately $11.14 million.
• Diageo recently announced an increase in its semi-annual dividend to $2.5192 per share, payable on December 4th, representing a yield of 370.0%.
• Analysts have mixed views on Diageo, with one sell rating, three hold ratings, and four buy ratings, resulting in an average rating of "Hold" and a target price of $129.00.

Citigroup Inc. trimmed its stake in Diageo plc (NYSE:DEO - Free Report) by 11.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,333 shares of the company's stock after selling 14,313 shares during the quarter. Citigroup Inc.'s holdings in Diageo were worth $11,143,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Diageo by 16.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company's stock worth $14,488,000 after acquiring an additional 19,327 shares during the last quarter. Philip James Wealth Mangement LLC acquired a new position in shares of Diageo in the first quarter worth $1,908,000. Miracle Mile Advisors LLC raised its holdings in shares of Diageo by 30.1% in the first quarter. Miracle Mile Advisors LLC now owns 40,492 shares of the company's stock worth $4,243,000 after acquiring an additional 9,366 shares during the last quarter. Carnegie Investment Counsel raised its holdings in shares of Diageo by 2,331.0% in the first quarter. Carnegie Investment Counsel now owns 41,036 shares of the company's stock worth $4,178,000 after acquiring an additional 39,348 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new position in shares of Diageo in the first quarter worth $262,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Trading Down 0.8%

DEO stock traded down $0.91 during trading on Thursday, reaching $114.34. 229,991 shares of the stock traded hands, compared to its average volume of 1,118,719. The business's 50 day moving average price is $104.64 and its 200-day moving average price is $107.83. Diageo plc has a 52-week low of $96.45 and a 52-week high of $142.73. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.67. The firm has a market capitalization of $63.61 billion, a PE ratio of 16.68, a P/E/G ratio of 4.07 and a beta of 0.53.

Diageo Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be given a dividend of $2.5192 per share. This represents a yield of 370.0%. This is a boost from Diageo's previous semi-annual dividend of $1.62. The ex-dividend date of this dividend is Friday, October 17th. Diageo's dividend payout ratio (DPR) is presently 46.42%.

Analyst Upgrades and Downgrades

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