CW Advisors LLC Takes Position in Diageo plc $DEO

Key Points

• CW Advisors LLC purchased 4,349 shares of Diageo plc, valued at approximately $457,000, during the first quarter.
• Diageo recently announced an increase in its semi-annual dividend to $2.5192, reflecting a substantial dividend yield of 370.0%.
• The Goldman Sachs Group upgraded Diageo's rating from "sell" to "neutral," while the company currently holds an average rating of "Hold" with a consensus price target of $129.00.

CW Advisors LLC purchased a new position in Diageo plc (NYSE:DEO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,349 shares of the company's stock, valued at approximately $457,000.

Several other hedge funds have also bought and sold shares of DEO. Northern Trust Corp lifted its stake in Diageo by 39.9% in the 4th quarter. Northern Trust Corp now owns 649,769 shares of the company's stock worth $82,605,000 after purchasing an additional 185,282 shares in the last quarter. Crestwood Advisors Group LLC purchased a new stake in Diageo in the 1st quarter worth $16,944,000. Partners Capital Investment Group LLP purchased a new stake in Diageo in the 1st quarter worth $4,161,000. GAMMA Investing LLC lifted its stake in Diageo by 4,656.6% in the 1st quarter. GAMMA Investing LLC now owns 154,305 shares of the company's stock worth $16,170,000 after purchasing an additional 151,061 shares in the last quarter. Finally, Clark Estates Inc. NY lifted its stake in Diageo by 116.4% in the 1st quarter. Clark Estates Inc. NY now owns 185,000 shares of the company's stock worth $19,386,000 after purchasing an additional 99,500 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company's stock.

Diageo Trading Down 1.0%

NYSE:DEO traded down $1.17 during mid-day trading on Tuesday, hitting $110.66. 1,094,159 shares of the stock traded hands, compared to its average volume of 1,233,818. The stock has a market capitalization of $61.56 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 3.96 and a beta of 0.59. Diageo plc has a 52 week low of $96.45 and a 52 week high of $142.73. The firm's 50 day moving average is $106.44 and its two-hundred day moving average is $107.93. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64.

Diageo Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be given a dividend of $2.5192 per share. This represents a dividend 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 is 46.42%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DEO. Morgan Stanley restated an "underweight" rating on shares of Diageo in a report on Monday, May 12th. The Goldman Sachs Group upgraded shares of Diageo from a "sell" rating to a "neutral" rating in a report on Thursday, August 7th. 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. Based on data from MarketBeat.com, Diageo currently has an average rating of "Hold" and a consensus price target of $129.00.

About Diageo

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.