Diageo plc $DEO Stock: Grandfield & Dodd LLC Trims Stake

Key Points

• Grandfield & Dodd LLC reduced its Diageo stake by 22.8% in the third quarter, selling 31,839 shares and retaining 107,867 shares valued at approximately $9.23 million. Institutional investors collectively own 8.97% of the company.
• Analyst sentiment remains mixed but leans positive: the stock has a consensus rating of “Hold” and an average price target of $99.75, with one Strong Buy, seven Buy, eight Hold and two Sell ratings.
• Diageo shares opened at $93.42, compared with a 12-month range of $72.45 to $102.74. The company also declared a $1.20-per-share dividend, payable December 3 to shareholders of record as of October 16.

Grandfield & Dodd LLC cut its holdings in Diageo plc (NYSE:DEO - Free Report) by 22.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 107,867 shares of the company's stock after selling 31,839 shares during the period. Grandfield & Dodd LLC's holdings in Diageo were worth $9,233,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. MGO One Seven LLC raised its position in shares of Diageo by 5.8% during the 3rd quarter. MGO One Seven LLC now owns 4,712 shares of the company's stock worth $403,000 after purchasing an additional 259 shares during the period. Choreo LLC lifted its holdings in shares of Diageo by 3.0% in the 3rd quarter. Choreo LLC now owns 6,875 shares of the company's stock worth $588,000 after purchasing an additional 201 shares during the last quarter. Financial Network Wealth Advisors LLC boosted its position in Diageo by 28.1% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 598 shares of the company's stock valued at $51,000 after purchasing an additional 131 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its position in Diageo by 64.0% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,604 shares of the company's stock valued at $394,000 after purchasing an additional 1,797 shares during the period. Finally, DMC Group LLC boosted its position in Diageo by 30.6% during the 3rd quarter. DMC Group LLC now owns 3,796 shares of the company's stock valued at $325,000 after purchasing an additional 890 shares during the period. Institutional investors own 8.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on DEO shares. Royal Bank Of Canada restated a "buy" rating on shares of Diageo in a research note on Sunday, August 23rd. Jefferies Financial Group reiterated a "buy" rating on shares of Diageo in a research note on Tuesday, October 13th. TD Cowen reissued a "buy" rating on shares of Diageo in a report on Monday, August 10th. Sanford C. Bernstein restated a "buy" rating on shares of Diageo in a research report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Diageo in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $99.75.

Diageo Price Performance

Shares of NYSE DEO opened at $93.42 on Friday. Diageo plc has a 12-month low of $72.45 and a 12-month high of $102.74. The stock has a 50 day simple moving average of $89.64 and a 200-day simple moving average of $85.89. The company has a current ratio of 1.60, a quick ratio of 0.62 and a debt-to-equity ratio of 1.53.

Diageo Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, October 16th will be given a dividend of $1.20 per share. This represents a yield of 252.0%. The ex-dividend date is Friday, October 16th.

About Diageo

Diageo plc is a global beverage-alcohol company headquartered in London, England. It develops, produces, markets and distributes spirits, beer and ready-to-drink beverages through a portfolio of well-known international and regional brands.

Its brands include Johnnie Walker, Crown Royal and Bulleit whiskies; Smirnoff, Cîroc and Ketel One vodkas; Captain Morgan rum; Don Julio and Casamigos tequila; Tanqueray gin; Baileys liqueur; and Guinness stout. The company sells products through retail, hospitality and e-commerce channels, serving consumers in markets across North America, Europe, Asia-Pacific, Latin America, Africa and other regions.

Diageo was formed in 1997 through the merger of Grand Metropolitan and Guinness.

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