Wellington Management Group LLP Lowers Stock Holdings in Diageo plc $DEO

Wellington Management Group LLP cut its holdings in Diageo plc (NYSE:DEO) by 0.5% in the 1st quarter, HoldingsChannel reports. The fund owned 1,126,032 shares of the company’s stock after selling 6,014 shares during the period. Wellington Management Group LLP’s holdings in Diageo were worth $117,997,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Diageo by 16.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company’s stock valued at $14,488,000 after purchasing an additional 19,327 shares during the period. Philip James Wealth Mangement LLC purchased a new position in Diageo during the first quarter worth about $1,908,000. Miracle Mile Advisors LLC boosted its stake in Diageo by 30.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 40,492 shares of the company’s stock worth $4,243,000 after buying an additional 9,366 shares during the last quarter. Carnegie Investment Counsel grew its holdings in Diageo by 2,331.0% in the 1st quarter. Carnegie Investment Counsel now owns 41,036 shares of the company’s stock valued at $4,178,000 after buying an additional 39,348 shares during the period. Finally, Sowell Financial Services LLC purchased a new stake in Diageo in the 1st quarter valued at about $262,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

DEO stock opened at $114.3990 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.67 and a debt-to-equity ratio of 1.64. The firm has a market cap of $63.64 billion, a P/E ratio of 16.70, a P/E/G ratio of 4.11 and a beta of 0.53. Diageo plc has a 12-month low of $96.45 and a 12-month high of $142.73. The stock’s 50 day simple moving average is $104.78 and its 200 day simple moving average is $107.81.

Diageo Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be paid a dividend of $2.5192 per share. This represents a yield of 370.0%. The ex-dividend date is Friday, October 17th. This is an increase from Diageo’s previous semi-annual dividend of $1.62. Diageo’s dividend payout ratio (DPR) is currently 46.42%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DEO. Morgan Stanley reissued an “underweight” rating on shares of Diageo in a research report on Monday, May 12th. The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $129.00.

About Diageo

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.