Marcum Wealth LLC Grows Stake in Diageo plc (NYSE:DEO)

Marcum Wealth LLC increased its stake in Diageo plc (NYSE:DEOGet Rating) by 11.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,160 shares of the company’s stock after acquiring an additional 216 shares during the period. Marcum Wealth LLC’s holdings in Diageo were worth $376,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in Diageo by 0.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 788,094 shares of the company’s stock worth $160,093,000 after purchasing an additional 7,308 shares during the last quarter. Pinnacle Bancorp Inc. raised its stake in Diageo by 16.3% in the first quarter. Pinnacle Bancorp Inc. now owns 636 shares of the company’s stock worth $129,000 after buying an additional 89 shares in the last quarter. Norris Perne & French LLP MI purchased a new position in Diageo in the first quarter worth $316,000. Magnolia Wealth Management LLC purchased a new position in Diageo in the first quarter worth $1,593,000. Finally, Institutional & Family Asset Management LLC grew its holdings in shares of Diageo by 1.4% during the first quarter. Institutional & Family Asset Management LLC now owns 19,746 shares of the company’s stock valued at $4,011,000 after buying an additional 277 shares during the last quarter. Institutional investors own 9.00% of the company’s stock.

Diageo Price Performance

Shares of Diageo stock opened at $171.93 on Friday. Diageo plc has a 1 year low of $166.24 and a 1 year high of $223.14. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.53 and a quick ratio of 0.69. The company’s fifty day moving average is $181.67 and its two-hundred day moving average is $186.41.

Diageo Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Friday, August 26th will be given a dividend of $2.2775 per share. This is an increase from Diageo’s previous semi-annual dividend of $1.57. This represents a yield of 2%. The ex-dividend date of this dividend is Thursday, August 25th.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DEO. Exane BNP Paribas downgraded shares of Diageo from an “outperform” rating to a “neutral” rating in a research report on Tuesday, September 6th. BNP Paribas cut shares of Diageo to a “neutral” rating in a research note on Tuesday, September 6th. Royal Bank of Canada increased their price target on shares of Diageo from GBX 2,800 ($33.83) to GBX 3,000 ($36.25) in a research note on Friday, July 29th. Kepler Capital Markets cut shares of Diageo from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, Barclays increased their price objective on shares of Diageo from GBX 5,040 ($60.90) to GBX 5,430 ($65.61) in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Diageo has an average rating of “Hold” and a consensus target price of $4,198.75.

About Diageo

(Get Rating)

Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages. The company offers scotch, whisky, gin, vodka, rum, ready to drink products, raki, liqueur, wine, tequila, Canadian whisky, American whiskey, cachaca, and brandy, as well as beer, including cider and non-alcoholic products.

Further Reading

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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