Phoenix Financial Ltd. Buys Shares of 18,000 Diageo plc $DEO

Key Points

• Phoenix Financial Ltd. has acquired 18,000 shares of Diageo plc for approximately $1,814,000 during the second quarter, indicating growing interest from institutional investors.
• Diageo has announced a new semi-annual dividend of $2.5192, up from a previous $1.62, reflecting a 516.0% yield.
• Analyst ratings for Diageo show a mix of opinions with four analysts rating it as a Buy and two as a Sell, resulting in an average rating of "Hold" and a consensus target price of $119.00.

Phoenix Financial Ltd. bought a new stake in Diageo plc (NYSE:DEO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,000 shares of the company's stock, valued at approximately $1,814,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Philip James Wealth Mangement LLC boosted its position in Diageo by 81.8% in the second quarter. Philip James Wealth Mangement LLC now owns 33,107 shares of the company's stock valued at $3,338,000 after buying an additional 14,895 shares in the last quarter. Martin Capital Partners LLC grew its stake in shares of Diageo by 225.8% in the second quarter. Martin Capital Partners LLC now owns 32,525 shares of the company's stock worth $3,280,000 after purchasing an additional 22,542 shares during the last quarter. Carnegie Investment Counsel grew its stake in shares of Diageo by 2,331.0% in the first quarter. Carnegie Investment Counsel now owns 41,036 shares of the company's stock worth $4,178,000 after purchasing an additional 39,348 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Diageo in the first quarter worth $4,265,000. Finally, McElhenny Sheffield Capital Management LLC bought a new stake in shares of Diageo in the second quarter worth $107,000. Institutional investors and hedge funds own 8.97% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DEO. Bank of America reduced their price objective on shares of Diageo from $117.00 to $109.00 and set a "buy" rating on the stock in a research note on Friday, September 26th. The Goldman Sachs Group raised shares of Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Diageo in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Diageo presently has an average rating of "Hold" and a consensus target price of $119.00.

Diageo Price Performance

DEO stock opened at $97.93 on Wednesday. The firm has a market cap of $54.51 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 3.57 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 12-month low of $93.42 and a 12-month high of $136.87. The company's fifty day simple moving average is $102.85 and its 200 day simple moving average is $105.62.

Diageo Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be issued a $2.5192 dividend. The ex-dividend date is Friday, October 17th. This is a positive change from Diageo's previous semi-annual dividend of $1.62. This represents a yield of 516.0%. Diageo's dividend payout ratio (DPR) is presently 72.41%.

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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