Prio Wealth Limited Partnership Reduces Position in Diageo plc (NYSE:DEO)

Prio Wealth Limited Partnership decreased its stake in shares of Diageo plc (NYSE:DEO) by 19.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,569 shares of the company’s stock after selling 8,333 shares during the period. Prio Wealth Limited Partnership’s holdings in Diageo were worth $4,992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in shares of Diageo by 38.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the company’s stock valued at $326,000 after purchasing an additional 643 shares during the period. OLD National Bancorp IN grew its position in shares of Diageo by 4.1% in the third quarter. OLD National Bancorp IN now owns 4,428 shares of the company’s stock valued at $621,000 after purchasing an additional 174 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI grew its position in shares of Diageo by 4.0% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 45,292 shares of the company’s stock valued at $6,356,000 after purchasing an additional 1,761 shares during the period. DMC Group LLC purchased a new stake in shares of Diageo in the third quarter valued at $240,000. Finally, Resonant Capital Advisors LLC purchased a new stake in shares of Diageo in the third quarter valued at $217,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DEO. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. The Goldman Sachs Group downgraded Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Diageo Trading Down 1.4 %

Diageo stock traded down $1.97 during midday trading on Monday, reaching $137.44. The stock had a trading volume of 82,464 shares, compared to its average volume of 764,058. Diageo plc has a twelve month low of $119.48 and a twelve month high of $161.64. The stock has a market capitalization of $76.40 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.77 and a beta of 0.69. 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 stock’s 50-day simple moving average is $133.30 and its 200 day simple moving average is $133.73.

Diageo Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, October 17th. Shareholders of record on Friday, August 30th were paid a dividend of $1.62 per share. This represents a dividend yield of 3.2%. The ex-dividend date was Friday, August 30th. Diageo’s dividend payout ratio is presently 71.37%.

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.