Diageo plc (NYSE:DEO) Position Lessened by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lowered its position in Diageo plc (NYSE:DEO) by 15.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,914 shares of the company’s stock after selling 531 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Diageo were worth $367,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. acquired a new position in Diageo in the second quarter worth approximately $5,071,000. Oppenheimer & Co. Inc. grew its position in Diageo by 26.1% in the second quarter. Oppenheimer & Co. Inc. now owns 21,474 shares of the company’s stock worth $2,707,000 after acquiring an additional 4,441 shares in the last quarter. Beverly Hills Private Wealth LLC increased its stake in shares of Diageo by 21.9% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 17,877 shares of the company’s stock worth $2,254,000 after purchasing an additional 3,216 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Diageo by 24.7% during the 2nd quarter. American Century Companies Inc. now owns 95,699 shares of the company’s stock valued at $12,066,000 after purchasing an additional 18,974 shares in the last quarter. Finally, Mitchell Sinkler & Starr PA lifted its stake in shares of Diageo by 101.4% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 5,205 shares of the company’s stock valued at $672,000 after purchasing an additional 2,620 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on DEO. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday. The Goldman Sachs Group downgraded Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Diageo Stock Performance

NYSE DEO opened at $132.11 on Friday. The stock has a 50-day simple moving average of $128.86 and a 200 day simple moving average of $135.98. Diageo plc has a twelve month low of $119.48 and a twelve month high of $161.64. 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 firm 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. The ex-dividend date of this dividend is Friday, August 30th. This represents a dividend yield of 3.2%.

Diageo 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.