Oppenheimer Asset Management Inc. Buys 1,649 Shares of Diageo plc $DEO

Oppenheimer Asset Management Inc. grew its position in Diageo plc (NYSE:DEO) by 0.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 180,923 shares of the company’s stock after purchasing an additional 1,649 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Diageo were worth $18,244,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DEO. Brighton Jones LLC purchased a new stake in shares of Diageo in the fourth quarter valued at $202,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Diageo by 1.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,788 shares of the company’s stock valued at $4,065,000 after buying an additional 703 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Diageo by 26.9% during the first quarter. Bessemer Group Inc. now owns 2,697 shares of the company’s stock valued at $283,000 after buying an additional 572 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Diageo by 273.7% during the first quarter. Golden State Wealth Management LLC now owns 3,688 shares of the company’s stock valued at $386,000 after buying an additional 2,701 shares during the last quarter. Finally, Park Place Capital Corp grew its stake in shares of Diageo by 24.2% during the first quarter. Park Place Capital Corp now owns 2,641 shares of the company’s stock valued at $277,000 after buying an additional 514 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of Diageo stock opened at $96.19 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. Diageo plc has a 12 month low of $93.42 and a 12 month high of $134.71. The stock’s fifty day moving average price is $102.01 and its 200-day moving average price is $105.52.

Diageo Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be paid a dividend of $2.5192 per share. This is a boost from Diageo’s previous semi-annual dividend of $1.62. This represents a dividend yield of 516.0%. The ex-dividend date is Friday, October 17th.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DEO shares. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research note on Friday. The Goldman Sachs Group raised shares of 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 shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $119.00.

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.