Covington Capital Management Sells 100 Shares of Diageo plc (NYSE:DEO)

Covington Capital Management reduced its position in Diageo plc (NYSE:DEO) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,375 shares of the company’s stock after selling 100 shares during the period. Covington Capital Management’s holdings in Diageo were worth $839,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marcum Wealth LLC lifted its stake in Diageo by 2.5% during the 2nd quarter. Marcum Wealth LLC now owns 2,124 shares of the company’s stock valued at $407,000 after acquiring an additional 51 shares in the last quarter. Hills Bank & Trust Co grew its holdings in Diageo by 3.0% during the 2nd quarter. Hills Bank & Trust Co now owns 1,839 shares of the company’s stock valued at $352,000 after buying an additional 54 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of Diageo by 1.4% during the 2nd quarter. Wedbush Securities Inc. now owns 4,387 shares of the company’s stock valued at $841,000 after acquiring an additional 59 shares during the last quarter. Principal Street Partners LLC boosted its position in shares of Diageo by 3.2% during the 1st quarter. Principal Street Partners LLC now owns 1,928 shares of the company’s stock valued at $319,000 after acquiring an additional 60 shares during the last quarter. Finally, Advisor OS LLC boosted its position in shares of Diageo by 1.9% during the 1st quarter. Advisor OS LLC now owns 3,249 shares of the company’s stock valued at $533,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 9.85% of the company’s stock.

A number of research firms recently weighed in on DEO. Credit Suisse Group restated an “outperform” rating on shares of Diageo in a research report on Friday, October 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Diageo in a research note on Wednesday, July 14th. Citigroup reaffirmed a “neutral” rating on shares of Diageo in a research note on Tuesday, June 22nd. Morgan Stanley reaffirmed an “overweight” rating on shares of Diageo in a research note on Thursday, August 5th. Finally, Barclays reissued an “overweight” rating on shares of Diageo in a report on Monday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Diageo currently has an average rating of “Buy” and an average price target of $197.50.

Shares of DEO opened at $197.21 on Thursday. The stock has a market cap of $126.16 billion, a P/E ratio of 30.15, a P/E/G ratio of 3.20 and a beta of 0.66. The stock has a 50-day moving average of $194.12 and a two-hundred day moving average of $189.56. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.76 and a current ratio of 1.60. Diageo plc has a one year low of $129.16 and a one year high of $202.35.

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, October 13th. Investors of record on Friday, August 27th were issued a $2.4803 dividend. The ex-dividend date of this dividend was Thursday, August 26th. This is a boost from Diageo’s previous semi-annual dividend of $1.53. This represents a yield of 1.8%. Diageo’s dividend payout ratio is currently 73.85%.

About Diageo

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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