Oliver Luxxe Assets LLC Acquires 7,524 Shares of Diageo plc $DEO

Key Points

• Oliver Luxxe Assets LLC raised its stake in Diageo plc by 47.1% during the first quarter, owning 23,501 shares valued at approximately $2.46 million.
• Diageo recently announced an increase in its semi-annual dividend to $2.5192, which is a significant boost from the previous $1.62.
• The current consensus rating for Diageo stock is "Hold," with a price target of $129.00, following recent upgrades and downgrades from various analysts.

Oliver Luxxe Assets LLC increased its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 47.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 23,501 shares of the company's stock after acquiring an additional 7,524 shares during the period. Oliver Luxxe Assets LLC's holdings in Diageo were worth $2,463,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in DEO. Northern Trust Corp boosted its stake in Diageo by 39.9% during the 4th quarter. Northern Trust Corp now owns 649,769 shares of the company's stock valued at $82,605,000 after purchasing an additional 185,282 shares during the period. Crestwood Advisors Group LLC bought a new stake in Diageo during the 1st quarter valued at approximately $16,944,000. Partners Capital Investment Group LLP bought a new stake in Diageo during the 1st quarter valued at approximately $4,161,000. GAMMA Investing LLC boosted its stake in Diageo by 4,656.6% during the 1st quarter. GAMMA Investing LLC now owns 154,305 shares of the company's stock valued at $16,170,000 after purchasing an additional 151,061 shares during the period. Finally, Clark Estates Inc. NY boosted its stake in Diageo by 116.4% during the 1st quarter. Clark Estates Inc. NY now owns 185,000 shares of the company's stock valued at $19,386,000 after purchasing an additional 99,500 shares during the period. Institutional investors own 8.97% of the company's stock.

Diageo Trading Down 0.5%

Shares of NYSE DEO traded down $0.57 during midday trading on Friday, hitting $111.60. The stock had a trading volume of 534,491 shares, compared to its average volume of 1,114,254. The company's 50-day simple moving average is $105.80 and its 200 day simple moving average is $107.85. The firm has a market cap of $62.09 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 4.00 and a beta of 0.53. Diageo plc has a fifty-two week low of $96.45 and a fifty-two week high of $142.73. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64.

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 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%.

Wall Street Analyst Weigh In

A number of brokerages have commented on DEO. The Goldman Sachs Group upgraded 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 assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Diageo has an average rating of "Hold" and a consensus target price of $129.00.

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.