Tocqueville Asset Management L.P. Has $258,000 Stock Holdings in Diageo plc $DEO

Key Points

• Tocqueville Asset Management L.P. reduced its holdings in Diageo plc by 90.4%, selling 23,190 shares and now owning only 2,460 shares worth approximately $258,000.
• Several institutional investors made new positions in Diageo, including Orion Capital Management LLC and Perkins Coie Trust Co, with investments valued around $25,000 to $30,000.
• Diageo announced a semi-annual dividend of $2.5192 per share, set to be paid on December 4th, marking an increase from a previous dividend of $1.62.

Tocqueville Asset Management L.P. lowered its stake in Diageo plc (NYSE:DEO - Free Report) by 90.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,460 shares of the company's stock after selling 23,190 shares during the period. Tocqueville Asset Management L.P.'s holdings in Diageo were worth $258,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Kovitz Investment Group Partners LLC increased its holdings in shares of Diageo by 234.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company's stock valued at $330,627,000 after buying an additional 1,822,994 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Diageo by 0.3% in the fourth quarter. Royal Bank of Canada now owns 1,540,800 shares of the company's stock valued at $195,883,000 after buying an additional 3,876 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of 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 buying an additional 42,740 shares in the last quarter. Confluence Investment Management LLC increased its holdings in shares of Diageo by 0.7% in the first quarter. Confluence Investment Management LLC now owns 1,184,987 shares of the company's stock valued at $124,175,000 after buying an additional 8,521 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Diageo by 39.9% in the fourth quarter. Northern Trust Corp now owns 649,769 shares of the company's stock valued at $82,605,000 after buying an additional 185,282 shares in the last quarter. Institutional investors own 8.97% of the company's stock.

Diageo Stock Up 0.9%

Shares of NYSE DEO traded up $0.9830 during mid-day trading on Friday, reaching $115.3830. The company had a trading volume of 1,065,900 shares, compared to its average volume of 1,567,723. Diageo plc has a twelve month low of $96.45 and a twelve month high of $142.73. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. The stock has a market capitalization of $64.19 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 4.11 and a beta of 0.53. The stock's 50 day moving average is $104.99 and its 200-day moving average is $107.75.

Diageo Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be paid a $2.5192 dividend. 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 dividend payout ratio (DPR) is currently 46.42%.

Analyst Ratings Changes

A number of analysts have recently issued reports on DEO shares. The Goldman Sachs Group upgraded Diageo from a "sell" rating to a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley restated an "underweight" rating on shares of Diageo in a report on Monday, May 12th. Four research 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.