Lincoln Capital LLC Has $5.67 Million Stock Position in Diageo plc $DEO

Key Points

• Lincoln Capital LLC has reduced its stake in Diageo plc by 8.6%, holding 50,458 shares valued at approximately $5.67 million, which accounts for 1.2% of its total holdings.
• Diageo recently announced an increase in its semi-annual dividend to $2.5192 per share, up from $1.62, with the dividend payout ratio at 46.42%.
• Current analyst ratings on Diageo's stock range from sell to buy, with an average rating of "Hold" and a consensus price target of $129.00.

Lincoln Capital LLC lowered its position in shares of Diageo plc (NYSE:DEO - Free Report) by 8.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,458 shares of the company's stock after selling 4,763 shares during the quarter. Diageo accounts for 1.2% of Lincoln Capital LLC's holdings, making the stock its 20th biggest position. Lincoln Capital LLC's holdings in Diageo were worth $5,670,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC boosted its position in Diageo by 234.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company's stock worth $330,627,000 after acquiring an additional 1,822,994 shares during the last quarter. Royal Bank of Canada boosted its position in Diageo by 0.3% during the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock worth $195,883,000 after acquiring an additional 3,876 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Diageo by 3.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,441,300 shares of the company's stock worth $151,034,000 after acquiring an additional 42,740 shares during the last quarter. Confluence Investment Management LLC raised its stake in shares of Diageo by 0.7% during the 1st quarter. Confluence Investment Management LLC now owns 1,184,987 shares of the company's stock worth $124,175,000 after purchasing an additional 8,521 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Diageo by 9.8% during the 1st quarter. Raymond James Financial Inc. now owns 1,069,567 shares of the company's stock worth $112,080,000 after purchasing an additional 95,037 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company's stock.

Diageo Stock Up 0.2%

DEO opened at $110.92 on Monday. Diageo plc has a 1-year low of $96.45 and a 1-year high of $142.73. The stock's fifty day simple moving average is $104.27 and its 200 day simple moving average is $107.79. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The stock has a market cap of $61.71 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 3.34 and a beta of 0.53.

Diageo Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Investors 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. The ex-dividend date is Friday, October 17th. This represents a yield of 370.0%. Diageo's dividend payout ratio (DPR) is currently 46.42%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DEO shares. Morgan Stanley reissued an "underweight" rating on shares of Diageo in a report on Monday, May 12th. The Goldman Sachs Group raised Diageo from a "sell" rating to a "neutral" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $129.00.

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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