Northern Trust Corp Sells 55,577 Shares of Diageo plc $DEO

Key Points

• Northern Trust Corp reduced its stake in Diageo plc by 8.6%, now holding approximately $62.27 million worth of shares after selling 55,577 shares in the first quarter.
• Diageo recently declared a semi-annual dividend of $2.5192, representing a yield of 370% and an increase from the previous dividend of $1.62.
• Analysts have mixed ratings on Diageo, with Goldman Sachs upgrading its rating to "neutral" and four analysts giving it a Buy rating, alongside an average target price of $129.00.

Northern Trust Corp trimmed its position in Diageo plc (NYSE:DEO - Free Report) by 8.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 594,192 shares of the company's stock after selling 55,577 shares during the quarter. Northern Trust Corp owned 0.11% of Diageo worth $62,265,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DEO. Crestwood Advisors Group LLC bought a new position in Diageo in the first quarter valued at approximately $16,944,000. GAMMA Investing LLC increased its stake in Diageo by 4,656.6% in the first quarter. GAMMA Investing LLC now owns 154,305 shares of the company's stock valued at $16,170,000 after acquiring an additional 151,061 shares during the last quarter. Clark Estates Inc. NY increased its stake in Diageo by 116.4% in the first quarter. Clark Estates Inc. NY now owns 185,000 shares of the company's stock valued at $19,386,000 after acquiring an additional 99,500 shares during the last quarter. Raymond James Financial Inc. increased its stake in Diageo by 9.8% in 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, Envestnet Asset Management Inc. increased its stake in Diageo by 3.1% in the first quarter. Envestnet Asset Management Inc. now owns 1,441,300 shares of the company's stock valued at $151,034,000 after acquiring an additional 42,740 shares during the last quarter. 8.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

DEO has been the topic of a number of research reports. Morgan Stanley reaffirmed an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. 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 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's stock. Based on data from MarketBeat.com, Diageo presently has a consensus rating of "Hold" and an average price target of $129.00.

Diageo Stock Down 0.4%

Shares of NYSE DEO traded down $0.43 during trading on Monday, hitting $111.74. 937,904 shares of the company traded hands, compared to its average volume of 1,355,816. The business's fifty day moving average is $106.25 and its 200 day moving average is $107.91. Diageo plc has a fifty-two week low of $96.45 and a fifty-two week high of $142.73. The firm has a market capitalization of $62.16 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 3.99 and a beta of 0.59. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63.

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 issued a dividend of $2.5192 per share. This is an increase from Diageo's previous semi-annual dividend of $1.62. This represents a dividend yield of 370.0%. The ex-dividend date is Friday, October 17th. Diageo's dividend payout ratio (DPR) 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.