Diageo plc $DEO Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC reduced its stake in Diageo plc by 8.6%, now holding 57,639 shares valued at approximately $6.04 million.
• Research analysts have mixed views on Diageo, with Goldman Sachs upgrading the stock from "sell" to "neutral" and an overall consensus rating of "Hold" and a price target of $129.00.
• Diageo's stock recently traded at $110.67, with a market capitalization of $61.57 billion and a P/E ratio of 16.16.

Neuberger Berman Group LLC cut its holdings in Diageo plc (NYSE:DEO - Free Report) by 8.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,639 shares of the company's stock after selling 5,453 shares during the period. Neuberger Berman Group LLC's holdings in Diageo were worth $6,040,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DEO. Orion Capital Management LLC bought a new stake in shares of Diageo in the fourth quarter valued at about $25,000. BNP Paribas acquired a new stake in Diageo during the 4th quarter valued at approximately $32,000. Measured Risk Portfolios Inc. bought a new position in shares of Diageo during the 4th quarter worth approximately $32,000. Perkins Coie Trust Co bought a new position in shares of Diageo in the 1st quarter worth $27,000. Finally, Barrett & Company Inc. bought a new position in shares of Diageo in the 1st quarter worth $27,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DEO shares. Morgan Stanley restated an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. The Goldman Sachs Group raised Diageo from a "sell" rating to a "neutral" rating in a report on Thursday, August 7th. 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. Based on data from MarketBeat.com, Diageo has an average rating of "Hold" and an average price target of $129.00.

Diageo Stock Performance

DEO traded up $3.0910 on Tuesday, reaching $113.7310. 1,122,763 shares of the stock were exchanged, compared to its average volume of 1,116,778. The firm has a market capitalization of $63.27 billion, a PE ratio of 16.61, a PEG ratio of 3.34 and a beta of 0.53. The company's 50-day moving average price is $104.34 and its 200 day moving average price is $107.73. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. Diageo plc has a fifty-two week low of $96.45 and a fifty-two week high of $142.73.

Diageo Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be issued a $2.5192 dividend. This is a boost from Diageo's previous semi-annual dividend of $1.62. This represents a yield of 370.0%. The ex-dividend date is Friday, October 17th. Diageo's payout ratio is currently 46.42%.

About Diageo

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.