Diageo plc $DEO Shares Sold by Colonial Trust Advisors

Key Points

• Colonial Trust Advisors reduced its holdings in Diageo plc by 20.7%, resulting in a current ownership of 13,381 shares valued at approximately $1.4 million.
• Diageo has announced a semi-annual dividend increase to $2.5192 per share, with a yield of 370.0%, payable on December 4th, 2023.
• The stock has been rated with an average consensus of "Hold" and a price target of $129.00, following upgrades and differing opinions from various analysts.

Colonial Trust Advisors lessened its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 20.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 13,381 shares of the company's stock after selling 3,489 shares during the quarter. Colonial Trust Advisors' holdings in Diageo were worth $1,402,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in DEO. Orion Capital Management LLC acquired a new stake in shares of Diageo in the fourth quarter valued at $25,000. Perkins Coie Trust Co purchased a new stake in Diageo in the 1st quarter worth about $27,000. Barrett & Company Inc. purchased a new stake in shares of Diageo in the first quarter worth approximately $27,000. Abound Financial LLC purchased a new stake in Diageo in the 1st quarter worth approximately $27,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Diageo during the 1st quarter worth about $30,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Performance

Shares of NYSE DEO opened at $110.75 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The business's 50 day moving average is $104.34 and its two-hundred day moving average is $107.73. The company has a market cap of $61.61 billion, a P/E ratio of 16.17, a P/E/G ratio of 3.34 and a beta of 0.53. Diageo plc has a 12 month low of $96.45 and a 12 month high of $142.73.

Diageo Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be given a dividend of $2.5192 per share. This represents a yield of 370.0%. 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. Diageo's payout ratio is presently 46.42%.

Wall Street Analyst Weigh In

DEO has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded shares of Diageo from a "sell" rating to a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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.

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