Jones Financial Companies Lllp Sells 15,180 Shares of Diageo plc $DEO

Key Points

• Jones Financial Companies Lllp sold 15,180 shares of Diageo plc, reducing its holdings by 53.4%, leaving it with 13,263 shares valued at approximately $1.39 million.
• Institutional investors have shown significant activity, with BNP Paribas Financial Markets increasing its stake by 1,544.5% to own nearly 397,000 shares worth over $41 million.
• Goldman Sachs upgraded Diageo's rating from "sell" to "neutral," contributing to a consensus price target of $129.00 among analysts.

Jones Financial Companies Lllp reduced its position in shares of Diageo plc (NYSE:DEO - Free Report) by 53.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,263 shares of the company's stock after selling 15,180 shares during the period. Jones Financial Companies Lllp's holdings in Diageo were worth $1,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in DEO. Orion Capital Management LLC bought a new position in shares of Diageo during the fourth quarter worth about $25,000. Perkins Coie Trust Co bought a new stake in Diageo during the 1st quarter valued at $27,000. Barrett & Company Inc. purchased a new stake in shares of Diageo in the first quarter worth approximately $27,000. Abound Financial LLC bought a new position in shares of Diageo during the first quarter valued at about $27,000. Finally, Opal Wealth Advisors LLC purchased a new position in Diageo in the first quarter worth $30,000. Institutional investors and hedge funds own 8.97% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised shares of Diageo from a "sell" rating to a "neutral" rating in a report on Thursday, August 7th. Three 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $129.00.

Diageo Trading Down 0.8%

Shares of NYSE DEO traded down $0.84 during mid-day trading on Thursday, hitting $98.21. The stock had a trading volume of 1,198,876 shares, compared to its average volume of 996,094. The business has a 50 day moving average price of $106.66 and a two-hundred day moving average price of $107.54. Diageo plc has a 1 year low of $96.45 and a 1 year high of $142.73. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. The firm has a market cap of $54.64 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 3.52 and a beta of 0.59.

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 issued a dividend of $2.5192 per share. 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 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.