Wellington Management Group LLP Trims Stake in Diageo plc $DEO

Key Points

• Wellington Management Group LLP reduced its stake in Diageo by 0.5%, holding 1,126,032 shares valued at approximately $118 million after selling 6,014 shares in the first quarter.
• Diageo announced a semi-annual dividend increase to $2.5192 per share, payable on December 4, reflecting a significant boost from the previous payment of $1.62.
• The stock received a mix of ratings, with Goldman Sachs upgrading it from "sell" to "neutral" while four analysts rated it as a Buy and three maintained a Hold rating, resulting in a consensus rating of "Hold."

Wellington Management Group LLP cut its position in Diageo plc (NYSE:DEO - Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,126,032 shares of the company's stock after selling 6,014 shares during the quarter. Wellington Management Group LLP owned approximately 0.20% of Diageo worth $117,997,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DEO. Venturi Wealth Management LLC boosted its holdings in Diageo by 3.6% during the first quarter. Venturi Wealth Management LLC now owns 2,582 shares of the company's stock worth $271,000 after buying an additional 89 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in Diageo by 5.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,867 shares of the company's stock valued at $237,000 after buying an additional 95 shares in the last quarter. Grove Bank & Trust lifted its position in shares of Diageo by 1.3% during the 1st quarter. Grove Bank & Trust now owns 7,560 shares of the company's stock valued at $792,000 after acquiring an additional 98 shares during the period. Malaga Cove Capital LLC boosted its stake in shares of Diageo by 3.3% during the 4th quarter. Malaga Cove Capital LLC now owns 3,101 shares of the company's stock worth $394,000 after acquiring an additional 100 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. grew its holdings in shares of Diageo by 3.2% in the 1st quarter. Pinnacle West Asset Management Inc. now owns 3,240 shares of the company's stock worth $340,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 8.97% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley reaffirmed an "underweight" rating on shares of Diageo in a report on Monday, May 12th. The Goldman Sachs Group upgraded Diageo from a "sell" rating to a "neutral" rating in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $129.00.

Diageo Price Performance

Shares of NYSE:DEO opened at $114.3990 on Friday. The business's fifty day moving average price is $104.78 and its two-hundred day moving average price is $107.81. The stock has a market cap of $63.64 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 4.11 and a beta of 0.53. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.67 and a current ratio of 1.63. Diageo plc has a one year low of $96.45 and a one year high of $142.73.

Diageo Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be given a dividend of $2.5192 per share. The ex-dividend date is Friday, October 17th. This represents a yield of 370.0%. This is a boost from Diageo's previous semi-annual dividend of $1.62. Diageo's dividend payout ratio (DPR) is 46.42%.

Diageo Profile

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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