Diageo plc $DEO Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its stake in shares of Diageo plc (NYSE:DEO) by 1.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,295 shares of the company’s stock after selling 350 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Diageo were worth $2,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DEO. Philip James Wealth Mangement LLC increased its stake in Diageo by 81.8% in the 2nd quarter. Philip James Wealth Mangement LLC now owns 33,107 shares of the company’s stock worth $3,338,000 after purchasing an additional 14,895 shares in the last quarter. Martin Capital Partners LLC boosted its holdings in shares of Diageo by 225.8% in the second quarter. Martin Capital Partners LLC now owns 32,525 shares of the company’s stock worth $3,280,000 after buying an additional 22,542 shares during the period. Carnegie Investment Counsel increased its position in shares of Diageo by 2,331.0% in the first quarter. Carnegie Investment Counsel now owns 41,036 shares of the company’s stock worth $4,178,000 after acquiring an additional 39,348 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Diageo during the first quarter valued at approximately $4,265,000. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Diageo in the 2nd quarter valued at approximately $107,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on DEO. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research note on Friday. Bank of America lowered their price target on Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Finally, The Goldman Sachs Group raised Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Diageo currently has an average rating of “Hold” and a consensus price target of $119.00.

Diageo Stock Performance

DEO opened at $96.19 on Monday. The stock has a fifty day moving average price of $102.01 and a 200 day moving average price of $105.51. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64. Diageo plc has a 1 year low of $93.42 and a 1 year high of $134.71.

Diageo Increases Dividend

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

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.