Kavar Capital Partners Group LLC Sells 1,585 Shares of Diageo plc $DEO

Kavar Capital Partners Group LLC lessened its holdings in shares of Diageo plc (NYSE:DEO) by 5.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,162 shares of the company’s stock after selling 1,585 shares during the period. Kavar Capital Partners Group LLC’s holdings in Diageo were worth $2,941,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DEO. Envestnet Asset Management Inc. boosted its stake in shares of Diageo by 3.1% in the first quarter. Envestnet Asset Management Inc. now owns 1,441,300 shares of the company’s stock valued at $151,034,000 after buying an additional 42,740 shares during the period. Confluence Investment Management LLC raised its holdings in Diageo by 14.0% in the 2nd quarter. Confluence Investment Management LLC now owns 1,350,826 shares of the company’s stock valued at $136,217,000 after acquiring an additional 165,839 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Diageo by 9.8% during the 1st quarter. Raymond James Financial Inc. now owns 1,069,567 shares of the company’s stock valued at $112,080,000 after acquiring an additional 95,037 shares during the period. LPL Financial LLC grew its holdings in shares of Diageo by 2.2% during the 1st quarter. LPL Financial LLC now owns 434,735 shares of the company’s stock worth $45,556,000 after purchasing an additional 9,306 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its position in shares of Diageo by 11.7% in the second quarter. Douglas Lane & Associates LLC now owns 419,290 shares of the company’s stock worth $42,281,000 after purchasing an additional 44,011 shares during the period. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DEO shares. The Goldman Sachs Group raised shares of Diageo from a “sell” rating to a “neutral” rating in a research report on Thursday, August 7th. Bank of America cut their price target on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a report on Friday. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $119.00.

Diageo Stock Up 0.8%

Shares of NYSE DEO opened at $94.91 on Tuesday. The company has a market cap of $52.80 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 3.34 and a beta of 0.59. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64. Diageo plc has a 12 month low of $93.42 and a 12 month high of $141.08. The stock has a 50-day moving average price of $105.65 and a two-hundred day moving average price of $106.75.

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 $2.5192 dividend. This represents a yield of 370.0%. The ex-dividend date of this dividend is Friday, October 17th. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. Diageo’s payout ratio is currently 46.42%.

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.