JLB & Associates Inc. Sells 6,828 Shares of Diageo plc $DEO

Key Points

• JLB & Associates Inc. has reduced its stake in Diageo plc by 44.6%, now holding 8,476 shares valued at approximately $855,000 following the sale of 6,828 shares.
• Diageo has announced a semi-annual dividend increase to $2.5192 per share, up from $1.62, with a dividend yield of 370.0%.
• The stock currently has a consensus rating of "Hold" from analysts, with a target price adjustment from $117.00 to $109.00 by Bank of America.

JLB & Associates Inc. trimmed its holdings in Diageo plc (NYSE:DEO - Free Report) by 44.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,476 shares of the company's stock after selling 6,828 shares during the quarter. JLB & Associates Inc.'s holdings in Diageo were worth $855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in Diageo by 16.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company's stock worth $14,488,000 after purchasing an additional 19,327 shares during the period. Philip James Wealth Mangement LLC bought a new stake in shares of Diageo in the 1st quarter worth approximately $1,908,000. Martin Capital Partners LLC grew its stake in shares of Diageo by 225.8% in the 2nd quarter. Martin Capital Partners LLC now owns 32,525 shares of the company's stock worth $3,280,000 after buying an additional 22,542 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Diageo by 30.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 40,492 shares of the company's stock worth $4,243,000 after buying an additional 9,366 shares during the last quarter. Finally, Carnegie Investment Counsel increased its position in Diageo by 2,331.0% during the 1st quarter. Carnegie Investment Counsel now owns 41,036 shares of the company's stock valued at $4,178,000 after buying an additional 39,348 shares in the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on DEO shares. Bank of America dropped their target price on Diageo from $117.00 to $109.00 and set a "buy" rating on the stock in a report on Friday. The Goldman Sachs Group upgraded shares of Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Four investment 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $119.00.

Diageo Price Performance

NYSE DEO opened at $94.91 on Tuesday. Diageo plc has a one year low of $93.42 and a one year high of $141.08. The stock has a 50-day moving average of $105.65 and a 200 day moving average of $106.75. The company has a market capitalization of $52.80 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 3.34 and a beta of 0.59. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63.

Diageo Increases Dividend

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

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