AdvisorShares Investments LLC Buys 1,600 Shares of Diageo plc (NYSE:DEO)

AdvisorShares Investments LLC boosted its stake in shares of Diageo plc (NYSE:DEOGet Rating) by 150.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,660 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. AdvisorShares Investments LLC’s holdings in Diageo were worth $540,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DEO. Pinnacle Bancorp Inc. raised its holdings in shares of Diageo by 16.3% in the first quarter. Pinnacle Bancorp Inc. now owns 636 shares of the company’s stock valued at $129,000 after purchasing an additional 89 shares during the last quarter. Norris Perne & French LLP MI acquired a new position in Diageo during the first quarter worth about $316,000. Oppenheimer & Co. Inc. raised its stake in Diageo by 2.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 14,254 shares of the company’s stock worth $3,138,000 after acquiring an additional 366 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in Diageo by 13.3% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,932 shares of the company’s stock worth $392,000 after acquiring an additional 227 shares in the last quarter. Finally, Eaton Vance Management raised its stake in Diageo by 8.2% during the fourth quarter. Eaton Vance Management now owns 15,825 shares of the company’s stock worth $3,141,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors own 9.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DEO. Morgan Stanley lowered their target price on Diageo from GBX 4,500 ($55.14) to GBX 4,100 ($50.24) in a research note on Tuesday, June 28th. Berenberg Bank boosted their price target on Diageo from GBX 3,900 ($47.79) to GBX 4,160 ($50.97) in a report on Tuesday. StockNews.com upgraded Diageo from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Credit Suisse Group boosted their price target on Diageo from GBX 4,400 ($53.91) to GBX 4,550 ($55.75) in a report on Friday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Diageo from GBX 3,230 ($39.58) to GBX 3,300 ($40.44) in a report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4,192.50.

Diageo Price Performance

Diageo stock opened at $188.37 on Friday. Diageo plc has a 52-week low of $166.24 and a 52-week high of $223.14. The stock’s 50 day moving average price is $178.92 and its two-hundred day moving average price is $191.02. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.69 and a current ratio of 1.53.

Diageo Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Friday, August 26th will be issued a dividend of $2.2775 per share. This represents a dividend yield of 2%. This is a boost from Diageo’s previous semi-annual dividend of $1.57. The ex-dividend date of this dividend is Thursday, August 25th.

Diageo Profile

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Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers scotch, whisky, gin, vodka, rum, ready to drink products, Irish cream liqueur, raki, liqueur, wine, tequila, Canadian whisky, American whiskey, cachaca, and brandy, as well as beer, including cider and non-alcoholic products.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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