Diageo plc (NYSE:DEO) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC reduced its position in shares of Diageo plc (NYSE:DEO) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 603,700 shares of the company’s stock after selling 2,200 shares during the period. Gabelli Funds LLC owned approximately 0.11% of Diageo worth $76,114,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new stake in Diageo during the fourth quarter valued at approximately $25,000. Triad Wealth Partners LLC acquired a new stake in shares of Diageo during the 2nd quarter valued at $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of Diageo during the 2nd quarter worth $25,000. Concord Wealth Partners acquired a new position in shares of Diageo in the 1st quarter worth $29,000. Finally, Beacon Capital Management LLC raised its position in shares of Diageo by 777.3% during the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after purchasing an additional 171 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Diageo Price Performance

NYSE DEO opened at $133.03 on Friday. The company has a 50 day simple moving average of $129.28 and a 200-day simple moving average of $135.38. Diageo plc has a 52-week low of $119.48 and a 52-week high of $161.64. The firm has a market capitalization of $73.95 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 3.84 and a beta of 0.69. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55.

Diageo Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be issued a dividend of $1.62 per share. This represents a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 30th. Diageo’s dividend payout ratio is currently 72.61%.

Analysts Set New Price Targets

DEO has been the topic of several recent analyst reports. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Finally, The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Diageo has an average rating of “Hold”.

Diageo Company 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.