Diageo plc $DEO Shares Purchased by Arlington Partners LLC

Key Points

• Arlington Partners LLC increased its stake in Diageo plc by 9.9% during Q2, now holding 42,397 shares valued at approximately $4.27 million.
• Diageo recently declared a semi-annual dividend of $2.5192, up from the previous $1.62, with a yield of 370.0%.
• Goldman Sachs upgraded Diageo's rating from sell to neutral, with a consensus target price of $129, while the stock currently has a Hold rating from analysts.

Arlington Partners LLC boosted its holdings in Diageo plc (NYSE:DEO - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,397 shares of the company's stock after acquiring an additional 3,835 shares during the quarter. Arlington Partners LLC's holdings in Diageo were worth $4,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Perkins Coie Trust Co acquired a new stake in Diageo during the 1st quarter worth about $27,000. Barrett & Company Inc. acquired a new stake in shares of Diageo during the 1st quarter valued at $27,000. Abound Financial LLC purchased a new position in shares of Diageo during the 1st quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in Diageo in the 1st quarter worth about $30,000. Finally, TruNorth Capital Management LLC bought a new position in Diageo during the first quarter valued at approximately $30,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Down 0.5%

NYSE DEO opened at $97.75 on Monday. The stock has a fifty day moving average of $106.55 and a 200-day moving average of $107.37. The stock has a market capitalization of $54.38 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 3.47 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 company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63.

Diageo Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be paid a $2.5192 dividend. This is an increase from Diageo's previous semi-annual dividend of $1.62. The ex-dividend date of this dividend is Friday, October 17th. This represents a dividend yield of 370.0%. Diageo's dividend payout ratio (DPR) is currently 72.55%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of Diageo from a "sell" rating to a "neutral" rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Diageo presently has a consensus 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.

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