Lorne Steinberg Wealth Management Inc. Has $5.64 Million Position in Diageo plc $DEO

Lorne Steinberg Wealth Management Inc. lowered its stake in shares of Diageo plc (NYSE:DEO) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,970 shares of the company’s stock after selling 855 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Diageo were worth $5,644,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DEO. BNP Paribas Financial Markets grew 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 buying an additional 372,555 shares in the last quarter. Orbis Allan Gray Ltd acquired a new stake in shares of Diageo in the 1st quarter valued at $36,050,000. Confluence Investment Management LLC boosted 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 purchasing an additional 165,839 shares in the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of Diageo in the 1st quarter valued at $16,944,000. Finally, Partners Capital Investment Group LLP acquired a new stake in shares of Diageo in the 1st quarter valued at $4,161,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Trading Down 1.0%

NYSE DEO opened at $97.69 on Monday. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. Diageo plc has a twelve month low of $93.42 and a twelve month high of $139.96. The company has a market cap of $54.38 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 3.55 and a beta of 0.58. The business’s fifty day moving average is $103.39 and its 200 day moving average is $105.72.

Diageo Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be issued a dividend of $2.5192 per share. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. The ex-dividend date of this dividend is Friday, October 17th. This represents a dividend yield of 516.0%. Diageo’s dividend payout ratio (DPR) is 72.41%.

Wall Street Analysts Forecast Growth

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