Wedbush Securities Inc. Reduces Position in Diageo plc (NYSE:DEO)

Wedbush Securities Inc. lowered its holdings in Diageo plc (NYSE:DEO) by 6.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,587 shares of the company’s stock after selling 239 shares during the period. Wedbush Securities Inc.’s holdings in Diageo were worth $452,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Scarborough Advisors LLC purchased a new position in shares of Diageo during the 4th quarter valued at approximately $25,000. Beacon Capital Management LLC raised its holdings in Diageo by 777.3% in the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after acquiring an additional 171 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Diageo during the 2nd quarter valued at $25,000. Concord Wealth Partners acquired a new position in Diageo during the 1st quarter worth $29,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Diageo in the 2nd quarter worth about $25,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Trading Down 1.0 %

Shares of NYSE:DEO opened at $132.04 on Friday. Diageo plc has a fifty-two week low of $119.48 and a fifty-two week high of $161.64. The firm has a 50-day simple moving average of $128.86 and a 200 day simple moving average of $136.11. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be issued a dividend of $1.62 per share. This represents a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 30th.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DEO shares. The Goldman Sachs Group cut shares of Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Finally, Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold”.

Diageo Company 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.