OLD Mission Capital LLC Sells 113,336 Shares of Diageo plc $DEO

Key Points

• OLD Mission Capital LLC significantly reduced its stake in Diageo plc by 83.9%, selling 113,336 shares and holding only 21,813 shares valued at approximately $2.3 million.
• Institutional investor activity includes BNP Paribas Financial Markets increasing its ownership by 1,544.5%, adding 372,555 shares valued at $41.6 million.
• Diageo recently announced a dividend increase to $2.5192 per share, which will be paid out on December 4th, representing a substantial yield of 370.0%.

OLD Mission Capital LLC cut its stake in Diageo plc (NYSE:DEO - Free Report) by 83.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,813 shares of the company's stock after selling 113,336 shares during the period. OLD Mission Capital LLC's holdings in Diageo were worth $2,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vident Advisory LLC boosted its stake in Diageo by 39.9% in the 1st quarter. Vident Advisory LLC now owns 4,210 shares of the company's stock worth $441,000 after purchasing an additional 1,200 shares during the period. BNP Paribas Financial Markets boosted its stake in Diageo by 1,544.5% in the 1st quarter. BNP Paribas Financial Markets now owns 396,676 shares of the company's stock worth $41,568,000 after purchasing an additional 372,555 shares during the period. Truvestments Capital LLC acquired a new position in Diageo in the 1st quarter worth $30,000. Causeway Capital Management LLC boosted its stake in Diageo by 4.0% in the 1st quarter. Causeway Capital Management LLC now owns 306,666 shares of the company's stock worth $32,135,000 after purchasing an additional 11,903 shares during the period. Finally, Potomac Fund Management Inc. ADV boosted its stake in Diageo by 15.6% in the 1st quarter. Potomac Fund Management Inc. ADV now owns 4,710 shares of the company's stock worth $517,000 after purchasing an additional 635 shares during the period. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Performance

Shares of DEO stock traded down $0.66 on Wednesday, reaching $110.04. The stock had a trading volume of 587,119 shares, compared to its average volume of 1,112,802. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. The firm's 50-day moving average is $106.44 and its two-hundred day moving average is $107.93. The firm has a market capitalization of $61.22 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 3.96 and a beta of 0.59. Diageo plc has a 12 month low of $96.45 and a 12 month high of $142.73.

Diageo Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be issued a $2.5192 dividend. This represents a dividend yield of 370.0%. 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. Diageo's payout ratio is currently 46.42%.

Analyst Ratings Changes

A number of brokerages recently weighed in on DEO. Morgan Stanley reaffirmed an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. 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 analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $129.00.

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.