Deutsche Bank AG Has $84,000 Stake in Diageo plc $DEO

Key Points

• Deutsche Bank AG significantly reduced its stake in Diageo plc by 99.7%, selling 238,558 shares and retaining only 800 shares valued at $84,000.
• Diageo announced a new semi-annual dividend of $2.5192 per share, an increase from the previous $1.62, reflecting a yield of 370.0%.
• Institutional ownership in Diageo comprises 8.97% of the company's stock, with several institutions acquiring new stakes recently, highlighting ongoing investor interest.

Deutsche Bank AG lessened its holdings in Diageo plc (NYSE:DEO - Free Report) by 99.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 800 shares of the company's stock after selling 238,558 shares during the quarter. Deutsche Bank AG's holdings in Diageo were worth $84,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Diageo by 0.3% during the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock worth $195,883,000 after buying an additional 3,876 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Diageo by 3.1% in the first quarter. Envestnet Asset Management Inc. now owns 1,441,300 shares of the company's stock valued at $151,034,000 after buying an additional 42,740 shares in the last quarter. Confluence Investment Management LLC raised its position in Diageo by 0.7% during the first quarter. Confluence Investment Management LLC now owns 1,184,987 shares of the company's stock worth $124,175,000 after acquiring an additional 8,521 shares in the last quarter. Northern Trust Corp grew its position in shares of Diageo by 39.9% in the 4th quarter. Northern Trust Corp now owns 649,769 shares of the company's stock valued at $82,605,000 after acquiring an additional 185,282 shares during the period. Finally, JARISLOWSKY FRASER Ltd raised its holdings in shares of Diageo by 0.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 623,534 shares of the company's stock valued at $79,270,000 after purchasing an additional 3,919 shares during the period. Institutional investors own 8.97% of the company's stock.

Analyst Upgrades and Downgrades

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

Diageo Stock Performance

Shares of Diageo stock traded down $0.27 on Thursday, hitting $109.75. The stock had a trading volume of 717,445 shares, compared to its average volume of 1,111,200. The stock has a market cap of $61.06 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 3.96 and a beta of 0.59. 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 plc has a twelve month low of $96.45 and a twelve month high of $142.73. The business's 50 day moving average is $106.64 and its two-hundred day moving average is $107.94.

Diageo Increases Dividend

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

Diageo Company 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.