Diageo plc $DEO Stake Boosted by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC raised its holdings in shares of Diageo plc (NYSE:DEO) by 1.3% during the third quarter, HoldingsChannel.com reports. The firm owned 504,919 shares of the company’s stock after buying an additional 6,648 shares during the period. Douglas Lane & Associates LLC’s holdings in Diageo were worth $43,221,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Bank of America Corp DE increased its position in Diageo by 3.7% during the 1st quarter. Bank of America Corp DE now owns 2,913,707 shares of the company’s stock valued at $216,925,000 after buying an additional 103,531 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Diageo by 53.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company’s stock worth $102,124,000 after acquiring an additional 477,999 shares during the last quarter. Equity Investment Corp increased its holdings in shares of Diageo by 16.7% during the fourth quarter. Equity Investment Corp now owns 1,137,390 shares of the company’s stock valued at $98,123,000 after acquiring an additional 163,168 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Diageo by 15.7% in the 1st quarter. Gabelli Funds LLC now owns 659,821 shares of the company’s stock valued at $49,124,000 after purchasing an additional 89,771 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in Diageo in the 1st quarter worth approximately $37,225,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. TD Cowen restated a “buy” rating on shares of Diageo in a research note on Monday, August 10th. UBS Group reissued a “neutral” rating on shares of Diageo in a report on Thursday, August 27th. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research note on Friday, July 17th. Loop Capital set a $99.00 price target on Diageo in a research note on Thursday, June 18th. Finally, Zacks Research upgraded Diageo from a “hold” rating to a “strong-buy” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $105.33.

Diageo Trading Down 0.4%

Shares of NYSE DEO traded down $0.34 during trading on Friday, reaching $86.64. 188,345 shares of the company traded hands, compared to its average volume of 1,465,314. The firm’s fifty day simple moving average is $89.51 and its 200 day simple moving average is $83.92. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.62 and a current ratio of 1.60. Diageo plc has a 12-month low of $72.45 and a 12-month high of $102.74.

Diageo Dividend Announcement

The business also recently declared a dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, October 16th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a yield of 252.0%.

About Diageo

Diageo plc is a global beverage alcohol company headquartered in London, England. The company produces, markets and distributes a broad portfolio of spirits, beer and ready-to-drink beverages through a collection of internationally recognized brands.

Its portfolio includes Johnnie Walker, Crown Royal, Buchanan’s and Talisker whiskies; Smirnoff, Cîroc and Ketel One vodkas; Tanqueray and Gordon’s gins; Baileys liqueur; Don Julio and Casamigos tequila; Captain Morgan rum; and Guinness beer.