Highland Capital Management LLC Has $1.35 Million Holdings in Diageo plc $DEO

Highland Capital Management LLC lowered its position in Diageo plc (NYSE:DEO) by 2.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,370 shares of the company’s stock after selling 340 shares during the period. Highland Capital Management LLC’s holdings in Diageo were worth $1,348,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Barrett & Company Inc. acquired a new position in shares of Diageo during the 1st quarter worth $27,000. Abound Financial LLC acquired a new position in Diageo during the 1st quarter worth $27,000. Cheviot Value Management LLC bought a new stake in Diageo during the 1st quarter valued at approximately $31,000. Opal Wealth Advisors LLC bought a new stake in shares of Diageo in the first quarter valued at approximately $30,000. Finally, Truvestments Capital LLC bought a new stake in shares of Diageo in the first quarter valued at approximately $30,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DEO has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research note on Saturday, September 27th. The Goldman Sachs Group upgraded Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Finally, Bank of America decreased their price target on Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, September 26th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Diageo currently has a consensus rating of “Hold” and an average price target of $119.00.

Diageo Stock Down 0.2%

NYSE:DEO opened at $96.17 on Monday. The firm has a market capitalization of $53.50 billion, a P/E ratio of 14.04, a P/E/G ratio of 3.45 and a beta of 0.58. Diageo plc has a 12-month low of $93.42 and a 12-month high of $139.96. The stock’s fifty day simple moving average is $104.86 and its 200-day simple moving average is $106.42. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64.

Diageo Increases Dividend

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

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.