DRW Securities LLC Trims Stock Position in Diageo plc $DEO

Key Points

• DRW Securities LLC has significantly decreased its stake in Diageo plc by 59.4%, now holding 3,499 shares valued at $367,000.
• Analysts have mixed opinions on Diageo, with Goldman Sachs upgrading the rating from "sell" to "neutral" while the stock currently holds an average rating of "Hold" with a price target of $129.00.
• Diageo is set to increase its semi-annual dividend to $2.5192, which is a substantial rise from the previous dividend of $1.62, representing a yield of 370.0%.

DRW Securities LLC trimmed its position in Diageo plc (NYSE:DEO - Free Report) by 59.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,499 shares of the company's stock after selling 5,125 shares during the period. DRW Securities LLC's holdings in Diageo were worth $367,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Diageo by 16.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company's stock worth $14,488,000 after buying an additional 19,327 shares during the last quarter. Philip James Wealth Mangement LLC acquired a new position in shares of Diageo during the 1st quarter worth approximately $1,908,000. Miracle Mile Advisors LLC boosted its holdings in shares of Diageo by 30.1% during the 1st quarter. Miracle Mile Advisors LLC now owns 40,492 shares of the company's stock worth $4,243,000 after purchasing an additional 9,366 shares during the last quarter. Carnegie Investment Counsel boosted its holdings in shares of Diageo by 2,331.0% during the 1st quarter. Carnegie Investment Counsel now owns 41,036 shares of the company's stock worth $4,178,000 after purchasing an additional 39,348 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new position in shares of Diageo during the 1st quarter worth approximately $262,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on DEO shares. The Goldman Sachs Group upgraded Diageo from a "sell" rating to a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley restated an "underweight" rating on shares of Diageo in a 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 given a Sell rating to the company. According to MarketBeat, Diageo has a consensus rating of "Hold" and a consensus price target of $129.00.

Diageo Trading Up 0.4%

Shares of DEO stock traded up $0.42 during trading on Friday, hitting $110.16. 858,906 shares of the stock traded hands, compared to its average volume of 1,012,168. The firm has a market capitalization of $61.29 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 3.89 and a beta of 0.59. 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 firm's fifty day moving average price is $107.02 and its 200-day moving average price is $107.98. Diageo plc has a 52-week low of $96.45 and a 52-week high of $142.73.

Diageo Increases Dividend

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

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.