McElhenny Sheffield Capital Management LLC Buys Shares of 107,000 Diageo plc $DEO

Key Points

• McElhenny Sheffield Capital Management LLC acquired 107,000 shares of Diageo plc, valued at approximately $107,000, highlighting significant interest from hedge funds in the company.
• Diageo recently announced an increased semi-annual dividend of $2.5192, a notable increase from the previous dividend of $1.62, with a dividend yield of 370.0%.
• Despite some analysts issuing a "sell" rating, Diageo has received multiple "buy" ratings and holds an average target price of $119.00, indicating a mixed outlook among analysts.

McElhenny Sheffield Capital Management LLC bought a new stake in Diageo plc (NYSE:DEO - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 107,000 shares of the company's stock, valued at approximately $107,000.

Other hedge funds also recently added to or reduced their stakes in the company. Barrett & Company Inc. purchased a new position in Diageo in the 1st quarter valued at approximately $27,000. Abound Financial LLC purchased a new position in shares of Diageo in the first quarter valued at $27,000. Cheviot Value Management LLC purchased a new position in shares of Diageo in the first quarter valued at $31,000. Opal Wealth Advisors LLC purchased a new position in shares of Diageo in the first quarter valued at $30,000. Finally, Truvestments Capital LLC purchased a new position in shares of Diageo in the first quarter valued at $30,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DEO shares. Weiss Ratings restated a "sell (d)" rating on shares of Diageo in a report on Wednesday. Bank of America dropped their price objective on shares of Diageo from $117.00 to $109.00 and set a "buy" rating for the company in a research note on Friday, September 26th. Finally, The Goldman Sachs Group raised shares of Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $119.00.

Diageo Price Performance

Shares of NYSE:DEO opened at $95.45 on Friday. The company has a market cap of $53.10 billion, a P/E ratio of 13.93, a P/E/G ratio of 3.43 and a beta of 0.58. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. Diageo plc has a 52 week low of $93.42 and a 52 week high of $139.96. The business has a fifty day simple moving average of $104.30 and a 200-day simple moving average of $106.11.

Diageo Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be issued a $2.5192 dividend. This is a positive change 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 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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