Brown Brothers Harriman & Co. Has $131.70 Million Stock Holdings in Diageo plc (NYSE:DEO)

Brown Brothers Harriman & Co. decreased its position in Diageo plc (NYSE:DEO) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,044,573 shares of the company’s stock after selling 15,098 shares during the quarter. Diageo comprises 1.0% of Brown Brothers Harriman & Co.’s investment portfolio, making the stock its 27th largest holding. Brown Brothers Harriman & Co.’s holdings in Diageo were worth $131,700,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kennon Green & Company LLC bought a new position in shares of Diageo in the 2nd quarter valued at about $224,000. Envestnet Asset Management Inc. boosted its stake in Diageo by 7.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after acquiring an additional 74,745 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Diageo by 13.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 154,577 shares of the company’s stock worth $19,489,000 after acquiring an additional 18,204 shares during the period. Thoroughbred Financial Services LLC raised its position in shares of Diageo by 16.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 6,502 shares of the company’s stock valued at $819,000 after acquiring an additional 942 shares during the last quarter. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its stake in shares of Diageo by 2.5% in the 2nd quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 15,357 shares of the company’s stock valued at $1,936,000 after purchasing an additional 375 shares during the period. 8.97% of the stock is owned by institutional investors.

Diageo Stock Down 0.9 %

Shares of Diageo stock opened at $132.11 on Monday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. The business has a 50-day moving average of $128.86 and a two-hundred day moving average of $135.86. Diageo plc has a 1 year low of $119.48 and a 1 year high of $161.64.

Diageo Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Investors of record on Friday, August 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, August 30th. This represents a yield of 3.2%.

Analysts Set New Price Targets

DEO has been the subject of a number of recent analyst reports. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Finally, The Goldman Sachs Group cut shares of Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

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.