Crestwood Advisors Group LLC Boosts Holdings in Diageo plc $DEO

Crestwood Advisors Group LLC boosted its position in Diageo plc (NYSE:DEO) by 68.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,497 shares of the company’s stock after purchasing an additional 110,801 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Diageo were worth $27,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its position 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 worth $151,034,000 after buying an additional 42,740 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of 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. boosted 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 last quarter. Cambiar Investors LLC boosted its position in shares of Diageo by 6.7% during the 2nd quarter. Cambiar Investors LLC now owns 517,688 shares of the company’s stock valued at $52,204,000 after acquiring an additional 32,430 shares during the last quarter. Finally, LPL Financial LLC boosted its position in shares of Diageo by 2.2% during the 1st quarter. LPL Financial LLC now owns 434,735 shares of the company’s stock valued at $45,556,000 after acquiring an additional 9,306 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DEO shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Bank of America lowered their price objective on shares of Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, September 26th. Finally, The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a research report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $119.00.

Diageo Stock Down 0.4%

DEO stock opened at $93.10 on Wednesday. Diageo plc has a one year low of $90.50 and a one year high of $132.34. The company’s 50 day moving average price is $99.13 and its two-hundred day moving average price is $104.71. 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 Increases Dividend

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

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.