Wedge Capital Management L L P NC Increases Stock Holdings in Diageo plc (NYSE:DEO)

Wedge Capital Management L L P NC increased its stake in Diageo plc (NYSE:DEO) by 18.0% in the third quarter, Holdings Channel reports. The institutional investor owned 61,763 shares of the company’s stock after acquiring an additional 9,426 shares during the period. Wedge Capital Management L L P NC’s holdings in Diageo were worth $8,668,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Procyon Advisors LLC raised its holdings in shares of Diageo by 16.1% in the third quarter. Procyon Advisors LLC now owns 18,716 shares of the company’s stock worth $2,627,000 after buying an additional 2,594 shares during the period. Avity Investment Management Inc. increased its stake in Diageo by 100.0% in the third quarter. Avity Investment Management Inc. now owns 6,500 shares of the company’s stock worth $912,000 after purchasing an additional 3,250 shares during the period. Paragon Capital Management Ltd purchased a new stake in Diageo in the third quarter worth $219,000. Wynn Capital LLC lifted its position in shares of Diageo by 11.3% during the third quarter. Wynn Capital LLC now owns 3,402 shares of the company’s stock worth $477,000 after purchasing an additional 345 shares during the last quarter. Finally, LVW Advisors LLC boosted its stake in shares of Diageo by 4.6% during the third quarter. LVW Advisors LLC now owns 4,638 shares of the company’s stock valued at $651,000 after purchasing an additional 205 shares during the period. Institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

NYSE:DEO opened at $135.42 on Tuesday. The firm has a 50 day moving average of $132.15 and a 200 day moving average of $134.05. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. Diageo plc has a 52 week low of $119.48 and a 52 week high of $161.64.

Diageo Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders 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 dividend yield of 3.2%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

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.