Procyon Advisors LLC Has $315,000 Stake in Diageo plc $DEO

Key Points

• Procyon Advisors LLC significantly reduced its stake in Diageo plc by 86.3% in Q2, ending with holdings worth $315,000 after selling 19,700 shares.
• Diageo has upgraded its stock rating from sell to neutral by The Goldman Sachs Group, with a current consensus price target of $129.00.
• The company announced a semi-annual dividend of $2.5192 per share, reflecting an increase from its previous dividend and representing a yield of 370.0%.

Procyon Advisors LLC decreased its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 86.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,123 shares of the company's stock after selling 19,700 shares during the quarter. Procyon Advisors LLC's holdings in Diageo were worth $315,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in Diageo during the fourth quarter worth about $25,000. Perkins Coie Trust Co acquired a new stake in shares of Diageo in the first quarter valued at approximately $27,000. Barrett & Company Inc. acquired a new stake in shares of Diageo in the first quarter valued at approximately $27,000. Abound Financial LLC acquired a new stake in shares of Diageo in the first quarter valued at approximately $27,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Diageo in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 8.97% of the company's stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded shares of Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Three 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. Based on data from MarketBeat.com, Diageo presently has an average rating of "Hold" and an average target price of $129.00.

Diageo Price Performance

NYSE DEO traded up $0.42 on Tuesday, reaching $96.40. The company's stock had a trading volume of 282,406 shares, compared to its average volume of 1,115,476. The firm has a market cap of $53.63 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59. Diageo plc has a 52 week low of $95.94 and a 52 week high of $142.73. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64. The business has a 50-day moving average price of $106.43 and a 200 day moving average price of $107.26.

Diageo Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be given a $2.5192 dividend. This represents a yield of 370.0%. This is a boost from Diageo's previous semi-annual dividend of $1.62. The ex-dividend date is Friday, October 17th. 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.