Hutchinson Financial Advisors INC purchased a new position in Diageo plc (NYSE:DEO – Free Report) in the second quarter, HoldingsChannel.com reports. The fund purchased 8,169 shares of the company’s stock, valued at approximately $824,000.
A number of other institutional investors also recently made changes to their positions in DEO. Abound Financial LLC acquired a new position in shares of Diageo in the first quarter worth $27,000. TruNorth Capital Management LLC acquired a new position in Diageo in the first quarter valued at $30,000. Truvestments Capital LLC acquired a new position in Diageo in the first quarter valued at $30,000. Cheviot Value Management LLC acquired a new position in Diageo in the first quarter valued at $31,000. Finally, Whipplewood Advisors LLC increased its stake in Diageo by 84.0% in the second quarter. Whipplewood Advisors LLC now owns 357 shares of the company’s stock valued at $36,000 after purchasing an additional 163 shares during the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on DEO shares. Bank of America dropped their target price on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group upgraded 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 two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $119.00.
Diageo Price Performance
Shares of NYSE:DEO opened at $92.13 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. The business has a 50-day moving average of $99.90 and a two-hundred day moving average of $104.98. Diageo plc has a 12 month low of $90.50 and a 12 month high of $132.34.
Diageo Increases Dividend
The company also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders 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 yield of 516.0%. The ex-dividend date is Friday, October 17th.
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.
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