Martin Capital Partners LLC Boosts Stake in Diageo plc $DEO

Key Points

• Martin Capital Partners LLC significantly increased its holdings in Diageo plc by 225.8%, acquiring an additional 22,542 shares, bringing its total to 32,525 shares valued at approximately $3.28 million.
• Diageo recently announced a semi-annual dividend increase to $2.5192 per share, up from the previous $1.62, with a dividend yield of 370.0% and a payout ratio of 46.42%.
• The Goldman Sachs Group upgraded Diageo's rating from "sell" to "neutral," with the current consensus rating being "Hold" and an average price target of $129.00.

Martin Capital Partners LLC boosted its holdings in Diageo plc (NYSE:DEO - Free Report) by 225.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,525 shares of the company's stock after acquiring an additional 22,542 shares during the quarter. Martin Capital Partners LLC's holdings in Diageo were worth $3,280,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of DEO. Royal Bank of Canada increased its position in shares of Diageo by 0.3% during the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock valued at $195,883,000 after purchasing an additional 3,876 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Diageo by 3.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,441,300 shares of the company's stock valued at $151,034,000 after buying an additional 42,740 shares in the last quarter. Confluence Investment Management LLC boosted its holdings in shares of Diageo by 14.0% in the 2nd quarter. Confluence Investment Management LLC now owns 1,350,826 shares of the company's stock worth $136,217,000 after purchasing an additional 165,839 shares in the last quarter. Raymond James Financial Inc. grew its position in Diageo by 9.8% during the first quarter. Raymond James Financial Inc. now owns 1,069,567 shares of the company's stock valued at $112,080,000 after acquiring an additional 95,037 shares during the last quarter. Finally, LPL Financial LLC boosted its position in Diageo by 2.2% during the first quarter. LPL Financial LLC now owns 434,735 shares of the company's stock valued at $45,556,000 after buying an additional 9,306 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Diageo currently has a consensus rating of "Hold" and a consensus price target of $129.00.

Diageo Price Performance

Shares of DEO traded down $0.44 during mid-day trading on Tuesday, reaching $100.02. The stock had a trading volume of 2,090,414 shares, compared to its average volume of 964,236. Diageo plc has a 12 month low of $96.45 and a 12 month 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 $55.64 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 3.57 and a beta of 0.59. The business has a fifty day moving average of $106.92 and a 200 day moving average of $107.67.

Diageo Increases Dividend

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

Diageo 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.