Corient Private Wealth LP Sells 59,861 Shares of Diageo plc $DEO

Key Points

• Corient Private Wealth LP cut its Diageo stake by 79.1% in the second quarter, selling 59,861 shares and retaining 15,858 shares valued at approximately $1.275 million.
• Other institutional investors, including Dimensional Fund Advisors and First Trust Advisors, increased their Diageo holdings; institutional investors collectively own 8.97% of the company.
• Analysts have a consensus “Hold” rating on Diageo, with an average price target of $105.33 versus the stock’s recent price of $87.48. The company also declared a $1.20 dividend payable December 3 to shareholders of record October 16.

Corient Private Wealth LP lessened its stake in Diageo plc (NYSE:DEO - Free Report) by 79.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,858 shares of the company's stock after selling 59,861 shares during the quarter. Corient Private Wealth LP's holdings in Diageo were worth $1,275,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. First Trust Advisors LP boosted its holdings in Diageo by 12.0% during the first quarter. First Trust Advisors LP now owns 463,572 shares of the company's stock worth $34,513,000 after purchasing an additional 49,504 shares during the last quarter. CORDA Investment Management LLC. grew its position in Diageo by 14.5% in the first quarter. CORDA Investment Management LLC. now owns 169,084 shares of the company's stock valued at $12,588,000 after purchasing an additional 21,446 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in Diageo by 10.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 186,176 shares of the company's stock valued at $13,861,000 after buying an additional 17,241 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Diageo by 53.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company's stock worth $102,124,000 after buying an additional 477,999 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Diageo by 9.5% during the 1st quarter. Bank of New York Mellon Corp now owns 160,477 shares of the company's stock worth $11,948,000 after buying an additional 13,928 shares in the last quarter. Institutional investors own 8.97% of the company's stock.

Diageo Trading Up 0.7%

NYSE DEO opened at $87.48 on Friday. The firm has a 50-day moving average price of $89.58 and a two-hundred day moving average price of $83.39. Diageo plc has a 12-month low of $72.45 and a 12-month high of $102.74. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.62.

Diageo Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DEO shares. Zacks Research raised Diageo from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. TD Cowen reissued a "buy" rating on shares of Diageo in a research report on Monday, August 10th. Loop Capital set a $99.00 price target on Diageo in a research note on Thursday, June 18th. UBS Group reaffirmed a "neutral" rating on shares of Diageo in a research report on Thursday, August 27th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Diageo in a research note on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Diageo currently has a consensus rating of "Hold" and an average price target of $105.33.

Diageo Profile

Diageo plc NYSE: DEO is a global beverage alcohol company headquartered in London, England. It produces, markets and distributes a broad portfolio of spirits, beer and ready-to-drink beverages, serving consumers in more than 180 countries.

Its portfolio includes brands such as Johnnie Walker, Crown Royal, Smirnoff, Cîroc, Captain Morgan, Baileys, Tanqueray, Don Julio, Casamigos, Guinness and Bulleit. The company's business activities span distilling, brewing, brand development, marketing, sales and distribution across multiple alcohol categories and geographic markets.

Diageo was formed in 1997 through the merger of Grand Metropolitan and Guinness.

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