Eagle Ridge Investment Management reduced its position in shares of Diageo plc (NYSE:DEO) by 12.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,815 shares of the company’s stock after selling 405 shares during the period. Eagle Ridge Investment Management’s holdings in Diageo were worth $485,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in DEO. Financial Gravity Wealth Inc. acquired a new position in shares of Diageo during the first quarter worth $27,000. TRUE Private Wealth Advisors acquired a new position in shares of Diageo during the second quarter worth $29,000. Meridian Wealth Management LLC acquired a new position in shares of Diageo during the second quarter worth $33,000. TCG Advisors LP acquired a new position in shares of Diageo during the first quarter worth $41,000. Finally, Manchester Financial Inc. acquired a new position in shares of Diageo during the second quarter worth $45,000. Institutional investors and hedge funds own 10.68% of the company’s stock.
Shares of Diageo stock traded up $2.62 during trading on Thursday, hitting $165.40. The company’s stock had a trading volume of 11,781 shares, compared to its average volume of 431,891. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.56 and a current ratio of 1.34. Diageo plc has a 52 week low of $131.43 and a 52 week high of $176.07. The stock has a market capitalization of $101.06 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 2.84 and a beta of 0.47. The firm’s 50-day moving average is $168.96.
The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, October 8th. Investors of record on Friday, August 9th will be paid a $2.111 dividend. This is a boost from Diageo’s previous Semi-Annual dividend of $0.19. The ex-dividend date of this dividend is Thursday, August 8th. Diageo’s payout ratio is currently 62.52%.
Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of Diageo from a “sell” rating to a “hold” rating and set a $178.00 price objective on the stock in a research note on Monday, May 27th. Kepler Capital Markets cut shares of Diageo from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $178.00.
Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.
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