Country Club Bank Lowers Stock Holdings in Diageo plc $DEO

Country Club Bank lowered its holdings in shares of Diageo plc (NYSE:DEO) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,622 shares of the company’s stock after selling 925 shares during the quarter. Country Club Bank’s holdings in Diageo were worth $866,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DEO. BNP Paribas Financial Markets boosted its position in Diageo by 1,544.5% during the first quarter. BNP Paribas Financial Markets now owns 396,676 shares of the company’s stock worth $41,568,000 after purchasing an additional 372,555 shares in the last quarter. Orbis Allan Gray Ltd purchased a new position in Diageo during the first quarter worth approximately $36,050,000. Confluence Investment Management LLC boosted its position in Diageo by 14.0% during the second quarter. Confluence Investment Management LLC now owns 1,350,826 shares of the company’s stock worth $136,217,000 after purchasing an additional 165,839 shares in the last quarter. Crestwood Advisors Group LLC purchased a new position in Diageo during the first quarter worth approximately $16,944,000. Finally, Partners Capital Investment Group LLP purchased a new position in Diageo during the first quarter worth approximately $4,161,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

NYSE:DEO opened at $95.89 on Wednesday. Diageo plc has a one year low of $93.42 and a one year high of $139.96. 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 stock has a market cap of $53.35 billion, a PE ratio of 14.00, a P/E/G ratio of 3.38 and a beta of 0.58. The stock has a 50 day moving average price of $104.49 and a 200 day moving average price of $106.26.

Diageo Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be issued a $2.5192 dividend. This is a boost from Diageo’s previous semi-annual dividend of $1.62. This represents a dividend yield of 370.0%. The ex-dividend date of this dividend is Friday, October 17th. Diageo’s payout ratio is 46.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DEO shares. Bank of America reduced their target price on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a report on Friday, September 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Saturday, September 27th. Finally, The Goldman Sachs Group raised Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Diageo currently has a consensus rating of “Hold” and an average target price of $119.00.

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.