Synovus Financial Corp Has $2.48 Million Holdings in 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 position in shares of Diageo plc (NYSE:DEO - Free Report) by 94.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,672 shares of the company's stock after purchasing an additional 11,505 shares during the period. 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 recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in Diageo by 16.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company's stock worth $14,488,000 after purchasing an additional 19,327 shares in the last quarter. Philip James Wealth Mangement LLC bought a new position in Diageo during the 1st quarter worth about $1,908,000. Miracle Mile Advisors LLC increased its holdings in Diageo by 30.1% during the 1st quarter. Miracle Mile Advisors LLC now owns 40,492 shares of the company's stock worth $4,243,000 after purchasing an additional 9,366 shares in the last quarter. Carnegie Investment Counsel increased its holdings in Diageo by 2,331.0% during the 1st quarter. Carnegie Investment Counsel now owns 41,036 shares of the company's stock worth $4,178,000 after purchasing an additional 39,348 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new position in Diageo during the 1st quarter worth about $262,000. Institutional investors own 8.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DEO shares. 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 report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $129.00.

Diageo Stock Performance

NYSE:DEO traded up $0.31 during mid-day trading on Thursday, hitting $112.34. The stock had a trading volume of 719,181 shares, compared to its average volume of 1,513,564. Diageo plc has a twelve month low of $96.45 and a twelve month high of $142.73. The stock has a market cap of $62.50 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 4.00 and a beta of 0.53. The company's 50 day simple moving average is $105.80 and its 200 day simple moving average is $107.85. 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 company also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Investors 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 is Friday, October 17th. This represents a yield of 370.0%. Diageo's dividend payout ratio (DPR) is 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.