Narwhal Capital Management Lowers Stock Holdings in Diageo plc $DEO

Key Points

• Narwhal Capital Management reduced its holdings in Diageo plc by 69.8%, selling 5,715 shares and owning only 2,477 shares at the end of the second quarter.
• Several institutional investors have recently acquired new positions in Diageo, with 8.97% of the stock now owned by hedge funds and other institutions.
• Diageo announced an increase in its semi-annual dividend to $2.5192 per share, up from the previous dividend of $1.62, with a yield of 370.0%.

Narwhal Capital Management trimmed its position in Diageo plc (NYSE:DEO - Free Report) by 69.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,477 shares of the company's stock after selling 5,715 shares during the quarter. Narwhal Capital Management's holdings in Diageo were worth $250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DEO. Barrett & Company Inc. bought a new position in shares of Diageo in the first quarter worth approximately $27,000. Abound Financial LLC bought a new position in shares of Diageo in the first quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in shares of Diageo in the first quarter worth approximately $30,000. TruNorth Capital Management LLC bought a new position in shares of Diageo in the first quarter worth approximately $30,000. Finally, Truvestments Capital LLC bought a new position in shares of Diageo in the first quarter worth approximately $30,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Diageo Stock Down 0.2%

Shares of NYSE DEO opened at $95.75 on Thursday. The stock has a market capitalization of $53.27 billion, a P/E ratio of 13.98, a PEG ratio of 3.44 and a beta of 0.58. Diageo plc has a one year low of $93.42 and a one year high of $139.96. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64. The firm's 50 day simple moving average is $104.35 and its two-hundred day simple moving average is $106.19.

Diageo Increases Dividend

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

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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