American Century Companies Inc. Increases Stock Holdings in Diageo plc $DEO

Key Points

• American Century Companies Inc. increased its stake in Diageo plc by 3.8%, owning 106,859 shares worth approximately $11.2 million after additional purchases in Q1.
• Diageo's stock recently experienced a 2.1% decline, with its share price at $111.24, while the company has a market cap of $61.89 billion.
• Diageo announced a semi-annual dividend increase to $2.5192 per share, significantly up from the previous dividend of $1.62, with a dividend yield of 370.0%.

American Century Companies Inc. boosted its holdings in Diageo plc (NYSE:DEO - Free Report) by 3.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,859 shares of the company's stock after purchasing an additional 3,894 shares during the quarter. American Century Companies Inc.'s holdings in Diageo were worth $11,198,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in DEO. Brighton Jones LLC acquired a new position in shares of Diageo in the 4th quarter valued at $202,000. Barclays PLC boosted its stake in Diageo by 1,668.0% during the 4th quarter. Barclays PLC now owns 2,599 shares of the company's stock worth $331,000 after purchasing an additional 2,452 shares during the period. Capital Analysts LLC grew its position in Diageo by 40.9% during the 4th quarter. Capital Analysts LLC now owns 1,543 shares of the company's stock worth $196,000 after purchasing an additional 448 shares during the last quarter. Northern Trust Corp grew its position in Diageo by 39.9% during 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 during the last quarter. Finally, Becker Capital Management Inc. increased its stake in Diageo by 7.6% in the fourth quarter. Becker Capital Management Inc. now owns 181,641 shares of the company's stock valued at $23,092,000 after purchasing an additional 12,755 shares during the period. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Morgan Stanley reaffirmed an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Diageo currently has an average rating of "Hold" and an average price target of $129.00.

Diageo Stock Performance

Diageo stock traded down $0.43 during trading hours on Monday, reaching $111.74. 937,904 shares of the stock were exchanged, compared to its average volume of 1,355,816. Diageo plc has a 52-week low of $96.45 and a 52-week high of $142.73. The stock has a market cap of $62.17 billion, a P/E ratio of 16.31, a P/E/G ratio of 3.99 and a beta of 0.59. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. The firm's 50 day moving average is $106.02 and its 200 day moving average is $107.88.

Diageo Increases Dividend

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

Diageo 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.