Ethic Inc. Decreases Stake in Diageo plc $DEO

Key Points

• Ethic Inc. has cut its stake in Diageo plc by 47.3%, reducing its holdings to 15,392 shares valued at approximately $1.6 million.
• In the fourth quarter, multiple institutional investors, including Barclays PLC and Russell Investments Group Ltd., significantly increased their stakes in Diageo, indicating renewed interest from the investment community.
• Diageo recently announced a semi-annual dividend of $2.5192 per share, marking a substantial increase from its previous dividend and reflecting a yield of 370.0%.

Ethic Inc. lessened its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 47.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,392 shares of the company's stock after selling 13,824 shares during the period. Ethic Inc.'s holdings in Diageo were worth $1,609,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new position in Diageo during the fourth quarter worth approximately $25,000. Perkins Coie Trust Co acquired a new position in Diageo during the first quarter worth approximately $27,000. Barrett & Company Inc. acquired a new position in Diageo during the first quarter worth approximately $27,000. Abound Financial LLC acquired a new position in Diageo during the first quarter worth approximately $27,000. Finally, Opal Wealth Advisors LLC acquired a new position in Diageo during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 8.97% of the company's stock.

Diageo Stock Performance

Shares of NYSE:DEO traded up $0.9830 during trading on Friday, reaching $115.3830. The company had a trading volume of 1,065,900 shares, compared to its average volume of 1,567,723. The firm has a market capitalization of $64.19 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 4.11 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. The stock's fifty day moving average price is $104.99 and its 200 day moving average price is $107.75. Diageo plc has a fifty-two week low of $96.45 and a fifty-two week high of $142.73.

Diageo Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be issued a $2.5192 dividend. The ex-dividend date of this dividend is Friday, October 17th. This is an increase from Diageo's previous semi-annual dividend of $1.62. This represents a dividend yield of 370.0%. Diageo's dividend payout ratio is presently 46.42%.

Analyst Ratings Changes

Several research firms have commented on DEO. The Goldman Sachs Group raised Diageo from a "sell" rating to a "neutral" rating in a research report on Thursday, August 7th. Morgan Stanley reaffirmed an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. 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's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $129.00.

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.