First Manhattan CO. LLC. Purchases 28,633 Shares of Diageo plc $DEO

Key Points

• First Manhattan CO. LLC. has increased its stake in Diageo plc by 11.8%, acquiring an additional 28,633 shares to reach a total of 270,800 shares worth approximately $28.7 million.
• Diageo announced a semi-annual dividend of $2.5192, representing a significant increase from the previous dividend of $1.62 and a yield of 370.0%.
• Analysts have varying ratings on Diageo, with a consensus rating of "Hold" and an average price target of $129.00, indicating potential growth outlook.

First Manhattan CO. LLC. raised its position in Diageo plc (NYSE:DEO - Free Report) by 11.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 270,800 shares of the company's stock after purchasing an additional 28,633 shares during the quarter. First Manhattan CO. LLC.'s holdings in Diageo were worth $28,785,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Orion Capital Management LLC bought a new position in Diageo in the fourth quarter valued at about $25,000. Perkins Coie Trust Co acquired a new stake in shares of Diageo in the first quarter valued at about $27,000. Barrett & Company Inc. acquired a new stake in shares of Diageo in the first quarter valued at about $27,000. Abound Financial LLC acquired a new stake in shares of Diageo in the first quarter valued at about $27,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Diageo in the first quarter valued at about $30,000. 8.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DEO has been the subject of several recent research reports. The Goldman Sachs Group raised Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $129.00.

Diageo Trading Up 0.4%

NYSE DEO traded up $0.42 during trading hours on Friday, hitting $110.16. 858,906 shares of the company's stock were exchanged, compared to its average volume of 1,012,168. The stock has a 50-day simple moving average of $107.02 and a 200 day simple moving average of $107.98. Diageo plc has a 1-year low of $96.45 and a 1-year high of $142.73. The firm has a market cap of $61.29 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 3.89 and a beta of 0.59. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64.

Diageo Increases Dividend

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