US Bancorp DE Acquires 13,141 Shares of Diageo plc $DEO

US Bancorp DE boosted its position in Diageo plc (NYSE:DEO) by 23.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 69,300 shares of the company’s stock after purchasing an additional 13,141 shares during the period. US Bancorp DE’s holdings in Diageo were worth $6,988,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in Diageo by 3.6% in the 1st quarter. Venturi Wealth Management LLC now owns 2,582 shares of the company’s stock worth $271,000 after purchasing an additional 89 shares in the last quarter. SageView Advisory Group LLC lifted its stake in Diageo by 1.7% in the 1st quarter. SageView Advisory Group LLC now owns 5,450 shares of the company’s stock worth $571,000 after purchasing an additional 89 shares in the last quarter. Grove Bank & Trust lifted its stake in Diageo by 1.3% in the 1st quarter. Grove Bank & Trust now owns 7,560 shares of the company’s stock worth $792,000 after purchasing an additional 98 shares in the last quarter. Pinnacle West Asset Management Inc. lifted its stake in Diageo by 3.2% in the 1st quarter. Pinnacle West Asset Management Inc. now owns 3,240 shares of the company’s stock worth $340,000 after purchasing an additional 100 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its stake in Diageo by 2.9% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,541 shares of the company’s stock worth $357,000 after purchasing an additional 101 shares in the last quarter. 8.97% of the stock is owned by institutional investors.

Diageo Price Performance

DEO stock opened at $95.77 on Monday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. Diageo plc has a 52 week low of $93.42 and a 52 week high of $139.96. The firm’s fifty day moving average is $104.27 and its 200 day moving average is $106.05. The firm has a market cap of $53.28 billion, a P/E ratio of 13.98, a P/E/G ratio of 3.43 and a beta of 0.58.

Diageo Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, October 17th. This represents a dividend yield of 370.0%. This is an increase from Diageo’s previous semi-annual dividend of $1.62. Diageo’s payout ratio is 46.42%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DEO. The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research report on Wednesday, October 8th. Finally, Bank of America lowered their price objective on shares of Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, September 26th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Diageo has an average rating of “Hold” and an average price target 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.