Wealth Enhancement Advisory Services LLC Boosts Position in Diageo plc $DEO

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Diageo plc by 2.7% during the second quarter, comprising 141,925 shares worth about $14.86 million.
• Diageo recently announced a new semi-annual dividend of $2.5192 per share, up from its previous dividend of $1.62, which will be paid on December 4th.
• Goldman Sachs upgraded Diageo's stock rating from "sell" to "neutral", with three analysts rating it as a "Buy" and an average target price of $129.00.

Wealth Enhancement Advisory Services LLC lifted its position in Diageo plc (NYSE:DEO - Free Report) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,925 shares of the company's stock after purchasing an additional 3,673 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Diageo were worth $14,864,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DEO. BNP Paribas Financial Markets grew its holdings in shares of Diageo by 1,544.5% in the first quarter. BNP Paribas Financial Markets now owns 396,676 shares of the company's stock valued at $41,568,000 after purchasing an additional 372,555 shares during the period. Orbis Allan Gray Ltd purchased a new stake in shares of Diageo in the first quarter valued at about $36,050,000. Confluence Investment Management LLC increased its position in shares of Diageo by 14.0% during the 2nd quarter. Confluence Investment Management LLC now owns 1,350,826 shares of the company's stock worth $136,217,000 after purchasing an additional 165,839 shares during the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of Diageo during the 1st quarter worth about $16,944,000. Finally, Partners Capital Investment Group LLP acquired a new stake in shares of Diageo during the 1st quarter worth about $4,161,000. Hedge funds and other institutional investors own 8.97% of the company's stock.

Diageo Trading Down 1.7%

NYSE DEO traded down $1.65 during trading on Monday, hitting $95.99. The stock had a trading volume of 1,797,898 shares, compared to its average volume of 993,346. The company has a market capitalization of $53.40 billion, a PE ratio of 14.01, a PEG ratio of 3.47 and a beta of 0.59. 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 has a 50 day moving average price of $106.55 and a 200 day moving average price of $107.37. Diageo plc has a twelve month low of $95.94 and a twelve month high of $142.73.

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 paid a $2.5192 dividend. This represents a dividend yield of 370.0%. The ex-dividend date is Friday, October 17th. This is a boost from Diageo's previous semi-annual dividend of $1.62. Diageo's dividend payout ratio (DPR) is 46.42%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised Diageo from a "sell" rating to a "neutral" rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock 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.