Janney Montgomery Scott LLC Raises Stake in Diageo plc $DEO

Key Points

• Janney Montgomery Scott LLC increased its stake in Diageo plc by 4.0% during the second quarter, owning 200,074 shares valued at approximately $20.2 million.
• Diageo recently announced a semi-annual dividend of $2.5192, significantly increasing from the previous dividend of $1.62, with a dividend yield of 370.0%.
• The company's stock has experienced a slight decline of 0.3%, with a current trading price of $96.29 and a market cap of $53.57 billion.

Janney Montgomery Scott LLC increased its stake in Diageo plc (NYSE:DEO - Free Report) by 4.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 200,074 shares of the company's stock after buying an additional 7,707 shares during the quarter. Janney Montgomery Scott LLC's holdings in Diageo were worth $20,176,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GC Wealth Management RIA LLC boosted its holdings in shares of Diageo by 39.2% in the 2nd quarter. GC Wealth Management RIA LLC now owns 8,021 shares of the company's stock worth $809,000 after buying an additional 2,257 shares during the last quarter. R.H. Investment Group LLC lifted its holdings in Diageo by 2.9% during the second quarter. R.H. Investment Group LLC now owns 24,326 shares of the company's stock valued at $2,453,000 after purchasing an additional 690 shares during the last quarter. Addenda Capital Inc. lifted its holdings in Diageo by 30.8% during the second quarter. Addenda Capital Inc. now owns 63,786 shares of the company's stock valued at $6,432,000 after purchasing an additional 15,008 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in Diageo by 0.3% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 247,258 shares of the company's stock valued at $24,933,000 after purchasing an additional 650 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Diageo by 33.2% during the second quarter. Signaturefd LLC now owns 5,261 shares of the company's stock valued at $530,000 after purchasing an additional 1,311 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Down 0.3%

DEO stock opened at $96.29 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64. The company's 50 day moving average is $105.07 and its 200 day moving average is $106.52. The stock has a market cap of $53.57 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 3.46 and a beta of 0.58. Diageo plc has a 1-year low of $93.42 and a 1-year high of $139.96.

Diageo Increases Dividend

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

Analyst Upgrades and Downgrades

DEO has been the topic of several recent research reports. Bank of America dropped their price objective on shares of Diageo from $117.00 to $109.00 and set a "buy" rating on the stock in a report on Friday, September 26th. The Goldman Sachs Group upgraded Diageo from a "sell" rating to a "neutral" rating in a research report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $119.00.

Diageo Company 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.

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