Weitz Investment Management Inc. Trims Holdings in Diageo plc (NYSE:DEO)

Weitz Investment Management Inc. cut its stake in Diageo plc (NYSE:DEO) by 16.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,000 shares of the company’s stock after selling 3,000 shares during the quarter. Weitz Investment Management Inc.’s holdings in Diageo were worth $2,875,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Marcum Wealth LLC grew its position in Diageo by 2.5% during the second quarter. Marcum Wealth LLC now owns 2,124 shares of the company’s stock worth $407,000 after buying an additional 51 shares in the last quarter. National Asset Management Inc. grew its position in Diageo by 39.3% during the second quarter. National Asset Management Inc. now owns 8,288 shares of the company’s stock worth $1,588,000 after buying an additional 2,337 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Diageo by 2.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 24,422 shares of the company’s stock worth $4,681,000 after buying an additional 617 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its position in Diageo by 25.5% during the second quarter. Nicholas Hoffman & Company LLC. now owns 2,226 shares of the company’s stock worth $427,000 after buying an additional 453 shares in the last quarter. Finally, Smith Moore & CO. purchased a new position in Diageo during the second quarter worth about $201,000. Institutional investors own 9.85% of the company’s stock.

Shares of NYSE DEO traded down $0.83 during midday trading on Wednesday, reaching $192.30. The company had a trading volume of 3,204 shares, compared to its average volume of 398,759. Diageo plc has a one year low of $127.12 and a one year high of $202.35. The company has a quick ratio of 0.76, a current ratio of 1.60 and a debt-to-equity ratio of 1.57. The firm’s fifty day moving average price is $194.70 and its 200-day moving average price is $185.79. The stock has a market cap of $123.02 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 3.20 and a beta of 0.66.

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, October 13th. Stockholders of record on Friday, August 27th will be paid a $2.4803 dividend. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, August 26th. This is a positive change from Diageo’s previous semi-annual dividend of $1.53. Diageo’s payout ratio is 75.54%.

Several equities analysts recently commented on the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of Diageo in a research report on Monday, August 2nd. Royal Bank of Canada restated a “sector perform” rating on shares of Diageo in a research report on Friday, July 30th. Barclays restated an “overweight” rating on shares of Diageo in a research report on Friday, July 30th. Argus raised Diageo from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research note on Friday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Diageo in a research note on Wednesday, July 14th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $189.12.

Diageo Profile

Diageo Plc engages in the production and distribution of alcoholic beverages. Its brands include Johnnie Walker, Crown Royal, JeB, Buchanan’s, Windsor and Bushmills whiskies, Smirnoff, Ciroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray, and Guinness. It operates through the following geographical segments: North America; Europe and Turkey; Africa; Latin America and Caribbean; Asia Pacific; ISC; and Corporate and Other.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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