Oliver Luxxe Assets LLC Boosts Stock Position in 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 raised its stake in Diageo plc (NYSE:DEO - Free Report) by 47.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DEO. RBO & Co. LLC boosted its position in Diageo by 0.3% during the 1st quarter. RBO & Co. LLC now owns 118,507 shares of the company's stock worth $12,418,000 after buying an additional 302 shares during the period. Clarkston Capital Partners LLC increased its holdings in Diageo by 1.4% in the first quarter. Clarkston Capital Partners LLC now owns 195,744 shares of the company's stock worth $20,512,000 after purchasing an additional 2,695 shares in the last quarter. CW Advisors LLC acquired a new position in shares of Diageo during the 1st quarter valued at $457,000. Partners Capital Investment Group LLP bought a new position in shares of Diageo during the 1st quarter worth about $4,161,000. Finally, Geo Capital Gestora de Recursos Ltd acquired a new stake in Diageo in the first quarter valued at approximately $2,015,000. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Diageo Trading Up 0.3%

NYSE:DEO traded up $0.31 during mid-day trading on Thursday, reaching $112.34. 719,181 shares of the company's stock traded hands, compared to its average volume of 1,117,850. The company has a 50 day moving average price of $105.58 and a 200-day moving average price of $107.83. Diageo plc has a 12-month low of $96.45 and a 12-month high of $142.73. The firm has a market capitalization of $62.50 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 3.96 and a beta of 0.53. 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 of this dividend 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 payout ratio is presently 46.42%.

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.