Marino Stram & Associates LLC Buys New Shares in Diageo plc $DEO

Key Points

• Marino Stram & Associates LLC has purchased a new stake in Diageo plc, acquiring 6,187 shares valued at approximately $624,000, reflecting growing institutional interest in the company.
• Diageo recently announced a significant increase in its semi-annual dividend to $2.5192, up from $1.62, signaling a robust financial position with a payout ratio of 46.42%.
• Brokerages show mixed opinions on Diageo, with Bank of America lowering its price target to $109 while maintaining a "buy" rating, indicating ongoing cautious optimism in the stock's potential growth.

Marino Stram & Associates LLC purchased a new stake in shares of Diageo plc (NYSE:DEO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,187 shares of the company's stock, valued at approximately $624,000.

Several other institutional investors have also added to or reduced their stakes in DEO. Venturi Wealth Management LLC boosted its stake in Diageo by 3.6% during the first quarter. Venturi Wealth Management LLC now owns 2,582 shares of the company's stock worth $271,000 after acquiring an additional 89 shares in the last quarter. SageView Advisory Group LLC lifted its holdings in shares of Diageo by 1.7% during the first quarter. SageView Advisory Group LLC now owns 5,450 shares of the company's stock valued at $571,000 after purchasing an additional 89 shares during the last quarter. Grove Bank & Trust boosted its position in shares of Diageo by 1.3% in the 1st quarter. Grove Bank & Trust now owns 7,560 shares of the company's stock worth $792,000 after purchasing an additional 98 shares in the last quarter. Pinnacle West Asset Management Inc. grew its stake in shares of Diageo by 3.2% in the 1st quarter. Pinnacle West Asset Management Inc. now owns 3,240 shares of the company's stock worth $340,000 after buying an additional 100 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its position in Diageo by 2.9% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,541 shares of the company's stock valued at $357,000 after buying an additional 101 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Performance

Shares of DEO opened at $95.42 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64. Diageo plc has a one year low of $93.42 and a one year high of $141.08. The firm has a market capitalization of $53.09 billion, a P/E ratio of 13.93, a PEG ratio of 3.41 and a beta of 0.59. The business has a fifty day moving average of $105.45 and a 200 day moving average of $106.67.

Diageo Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DEO. Bank of America reduced their price target on Diageo from $117.00 to $109.00 and set a "buy" rating for the company in a report on Friday, September 26th. 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target 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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