Diageo plc $DEO Stock: Lmcg Investments LLC Grows Holdings

Key Points

• Lmcg Investments increased its Diageo stake by 49.7% in the third quarter, bringing its holdings to 78,471 shares valued at approximately $6.7 million. Other institutional investors also expanded positions, with institutions and hedge funds collectively owning 8.97% of the company.
• Diageo shares opened at $92.82, above their 50-day and 200-day moving averages, while trading within a 52-week range of $72.45 to $102.74.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $105.33, despite some buy and strong-buy ratings. The company also declared a $1.20 dividend.

Lmcg Investments LLC lifted its stake in Diageo plc (NYSE:DEO - Free Report) by 49.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,471 shares of the company's stock after buying an additional 26,059 shares during the period. Lmcg Investments LLC's holdings in Diageo were worth $6,717,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in DEO. Foster Victor Wealth Advisors LLC raised its holdings in Diageo by 10.5% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 6,139 shares of the company's stock valued at $574,000 after acquiring an additional 584 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Diageo by 54.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 4,335 shares of the company's stock valued at $371,000 after acquiring an additional 1,522 shares during the period. Great Hill Capital LLC grew its holdings in shares of Diageo by 8.2% during the 3rd quarter. Great Hill Capital LLC now owns 153,837 shares of the company's stock worth $13,168,000 after purchasing an additional 11,709 shares in the last quarter. Diversify Advisory Services LLC grew its holdings in shares of Diageo by 35.9% during the 3rd quarter. Diversify Advisory Services LLC now owns 3,597 shares of the company's stock worth $338,000 after purchasing an additional 951 shares in the last quarter. Finally, Abel Hall LLC acquired a new stake in shares of Diageo during the 3rd quarter worth $306,000. Institutional investors and hedge funds own 8.97% of the company's stock.

Diageo Price Performance

NYSE DEO opened at $92.82 on Thursday. The business has a fifty day moving average price of $89.50 and a two-hundred day moving average price of $85.07. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.62 and a current ratio of 1.60. Diageo plc has a fifty-two week low of $72.45 and a fifty-two week high of $102.74.

Diageo Dividend Announcement

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

Analyst Upgrades and Downgrades

DEO has been the subject of a number of analyst reports. Zacks Research raised Diageo from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Berenberg Bank reiterated a "buy" rating on shares of Diageo in a research note on Sunday, August 9th. Jefferies Financial Group reiterated a "buy" rating on shares of Diageo in a research note on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft reissued a "neutral" rating on shares of Diageo in a report on Wednesday, October 14th. Finally, Morningstar cut shares of Diageo to a "hold" rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $105.33.

Diageo Company Profile

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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