CMH Wealth Management LLC Sells 11,413 Shares of Diageo plc $DEO

Key Points

• CMH Wealth Management cut its Diageo stake by 55.5% in the second quarter, selling 11,413 shares and retaining 9,150 shares valued at approximately $735,000.
• Diageo shares opened at $91.86, with the stock down 1.2%; shares have traded between $72.45 and $112.22 over the past year.
• Analysts maintain a consensus “Hold” rating on Diageo, with a consensus price target of $106.25. The company also declared a $1.20 dividend payable to eligible shareholders.

CMH Wealth Management LLC trimmed its position in shares of Diageo plc (NYSE:DEO - Free Report) by 55.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,150 shares of the company's stock after selling 11,413 shares during the period. CMH Wealth Management LLC's holdings in Diageo were worth $735,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Glenview Trust Co grew its position in Diageo by 3.7% during the fourth quarter. Glenview Trust Co now owns 2,928 shares of the company's stock valued at $253,000 after acquiring an additional 104 shares during the last quarter. Mission Wealth Management LP lifted its holdings in shares of Diageo by 4.0% in the 4th quarter. Mission Wealth Management LP now owns 2,992 shares of the company's stock worth $258,000 after acquiring an additional 114 shares during the last quarter. Intrust Bank NA boosted its stake in shares of Diageo by 4.4% in the 4th quarter. Intrust Bank NA now owns 3,270 shares of the company's stock valued at $282,000 after purchasing an additional 138 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its stake in shares of Diageo by 5.3% in the 4th quarter. Elevation Point Wealth Partners LLC now owns 2,792 shares of the company's stock valued at $241,000 after purchasing an additional 141 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in shares of Diageo by 2.0% during the 4th quarter. Horizon Investments LLC now owns 7,992 shares of the company's stock valued at $689,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 8.97% of the company's stock.

Diageo Trading Down 1.2%

Shares of Diageo stock opened at $91.86 on Tuesday. The business has a 50 day moving average of $87.51 and a 200 day moving average of $84.00. Diageo plc has a 52 week low of $72.45 and a 52 week high of $112.22. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.62 and a current ratio of 1.60.

Diageo Announces Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, October 16th will be issued a $1.20 dividend. The ex-dividend date is Friday, October 16th. This represents a yield of 252.0%.

Analyst Ratings Changes

A number of brokerages recently commented on DEO. UBS Group reiterated a "neutral" rating on shares of Diageo in a research report on Thursday. Loop Capital set a $99.00 price objective on Diageo in a research note on Thursday, June 18th. Zacks Research upgraded Diageo from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Weiss Ratings reissued a "sell (d)" rating on shares of Diageo in a research note on Friday, July 17th. Finally, TD Cowen restated a "buy" rating on shares of Diageo in a report on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Diageo currently has a consensus rating of "Hold" and a consensus price target of $106.25.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange NYSE: DEO and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo's core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.

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