Synovus Financial Corp Acquires 11,505 Shares of Diageo plc $DEO

Key Points

• Synovus Financial Corp increased its stake in Diageo plc by 94.6% in the first quarter, holding 23,672 shares valued at approximately $2.48 million.
• Diageo recently announced a semi-annual dividend of $2.5192 per share, an increase from the previous dividend of $1.62, with an ex-dividend date of October 17th.
• As of now, Diageo has a market cap of $63.23 billion and a consensus target price set at $129.00 by analysts, with varied ratings across brokerages.

Synovus Financial Corp boosted its holdings in Diageo plc (NYSE:DEO - Free Report) by 94.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,672 shares of the company's stock after buying an additional 11,505 shares during the quarter. Synovus Financial Corp's holdings in Diageo were worth $2,481,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Diageo by 16.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company's stock valued at $14,488,000 after buying an additional 19,327 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new stake in Diageo in the first quarter valued at about $1,908,000. Miracle Mile Advisors LLC boosted its stake in Diageo by 30.1% in the first quarter. Miracle Mile Advisors LLC now owns 40,492 shares of the company's stock valued at $4,243,000 after buying an additional 9,366 shares in the last quarter. Carnegie Investment Counsel boosted its stake in shares of Diageo by 2,331.0% during the first quarter. Carnegie Investment Counsel now owns 41,036 shares of the company's stock valued at $4,178,000 after purchasing an additional 39,348 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of Diageo during the first quarter valued at about $262,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Trading Down 0.4%

Shares of DEO traded down $0.43 during mid-day trading on Friday, reaching $111.74. 937,904 shares of the company 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 company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. The stock has a market capitalization of $62.16 billion, a PE ratio of 16.31, a PEG ratio of 3.99 and a beta of 0.59. The business has a 50 day simple moving average of $106.02 and a two-hundred day simple moving average of $107.88.

Diageo Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be given a dividend of $2.5192 per share. This represents a dividend yield of 370.0%. This is a positive change from Diageo's previous semi-annual dividend of $1.62. The ex-dividend date is Friday, October 17th. Diageo's dividend payout ratio is 46.42%.

Analyst Ratings Changes

A number of brokerages have recently commented on DEO. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. The Goldman Sachs Group raised Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.