Douglas Lane & Associates LLC Buys 44,011 Shares of Diageo plc $DEO

Key Points

• Douglas Lane & Associates LLC increased its stake in Diageo plc by 11.7% during the second quarter, owning 419,290 shares valued at approximately $42.28 million as of its latest SEC filing.
• BNP Paribas Financial Markets significantly boosted its position in Diageo by 1,544.5% in the first quarter, acquiring an additional 372,555 shares worth $41.57 million.
• Diageo announced a semi-annual dividend increase to $2.5192 per share, payable on December 4th, up from the previous $1.62, resulting in a substantial yield of 370.0%.

Douglas Lane & Associates LLC lifted its position in shares of Diageo plc (NYSE:DEO - Free Report) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 419,290 shares of the company's stock after purchasing an additional 44,011 shares during the quarter. Douglas Lane & Associates LLC owned 0.08% of Diageo worth $42,281,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Brighton Jones LLC acquired a new stake in shares of Diageo during the fourth quarter worth $202,000. Royal Bank of Canada boosted its position in Diageo by 0.3% during the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock valued at $195,883,000 after purchasing an additional 3,876 shares during the period. Waverly Advisors LLC raised its position in shares of Diageo by 6.6% during the fourth quarter. Waverly Advisors LLC now owns 43,034 shares of the company's stock worth $5,471,000 after purchasing an additional 2,661 shares during the period. Delta Investment Management LLC acquired a new position in Diageo in the 4th quarter worth about $250,000. Finally, Orion Capital Management LLC bought a new stake in shares of Diageo during the 4th quarter worth about $25,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Performance

Shares of DEO traded down $0.50 during mid-day trading on Friday, hitting $97.70. The stock had a trading volume of 518,854 shares, compared to its average volume of 1,113,002. The company's fifty day simple moving average is $106.66 and its two-hundred day simple moving average is $107.54. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. The company has a market cap of $54.35 billion, a PE ratio of 14.26, a PEG ratio of 3.52 and a beta of 0.59. Diageo plc has a fifty-two week low of $96.45 and a fifty-two week high of $142.73.

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 given a $2.5192 dividend. The ex-dividend date is Friday, October 17th. This represents a dividend yield of 370.0%. This is an increase from Diageo's previous semi-annual dividend of $1.62. Diageo's dividend payout ratio is 72.55%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Diageo presently has an average rating of "Hold" and a consensus target price of $129.00.

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.