Sagespring Wealth Partners LLC Trims Holdings in Diageo plc $DEO

Sagespring Wealth Partners LLC trimmed its stake in Diageo plc (NYSE:DEO) by 20.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,496 shares of the company’s stock after selling 657 shares during the period. Sagespring Wealth Partners LLC’s holdings in Diageo were worth $252,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Abound Financial LLC purchased a new position in shares of Diageo during the first quarter worth $27,000. TruNorth Capital Management LLC purchased a new position in shares of Diageo during the first quarter worth $30,000. Truvestments Capital LLC purchased a new position in shares of Diageo during the first quarter worth $30,000. Cheviot Value Management LLC purchased a new position in shares of Diageo during the first quarter worth $31,000. Finally, Financial Network Wealth Advisors LLC boosted its position in shares of Diageo by 63.0% during the first quarter. Financial Network Wealth Advisors LLC now owns 427 shares of the company’s stock worth $45,000 after buying an additional 165 shares during the period. 8.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DEO has been the subject of several research analyst reports. The Goldman Sachs Group upgraded Diageo from a “sell” rating to a “neutral” rating in a research report on Thursday, August 7th. Bank of America lowered their price target on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $119.00.

Diageo Stock Performance

Shares of Diageo stock opened at $97.69 on Friday. Diageo plc has a one year low of $93.42 and a one year high of $139.96. The company has a market cap of $54.38 billion, a PE ratio of 14.26, a P/E/G ratio of 3.55 and a beta of 0.58. 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 business has a 50-day simple moving average of $103.39 and a 200-day simple moving average of $105.74.

Diageo Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be given a dividend of $2.5192 per share. This is a boost from Diageo’s previous semi-annual dividend of $1.62. This represents a dividend yield of 516.0%. The ex-dividend date of this dividend is Friday, October 17th. Diageo’s dividend payout ratio is presently 46.42%.

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.