Argent Trust Co Increases Position in Diageo plc (NYSE:DEO)

Argent Trust Co grew its position in Diageo plc (NYSE:DEO) by 25.1% during the second quarter, Holdings Channel.com reports. The firm owned 13,525 shares of the company’s stock after acquiring an additional 2,713 shares during the period. Argent Trust Co’s holdings in Diageo were worth $1,705,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DEO. Clearbridge Investments LLC increased its holdings in Diageo by 7.0% in the first quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock valued at $349,785,000 after buying an additional 154,497 shares during the last quarter. Markel Group Inc. boosted its position in shares of Diageo by 0.5% during the 2nd quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock worth $172,315,000 after acquiring an additional 6,300 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Diageo by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock worth $142,165,000 after acquiring an additional 74,745 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Diageo by 2.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock valued at $139,504,000 after acquiring an additional 23,435 shares during the last quarter. Finally, Confluence Investment Management LLC raised its position in shares of Diageo by 10.5% during the 2nd quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock worth $117,474,000 after acquiring an additional 88,159 shares in the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Diageo Price Performance

NYSE DEO opened at $132.92 on Thursday. The firm’s fifty day moving average is $129.17 and its two-hundred day moving average is $135.59. Diageo plc has a one year low of $119.48 and a one year high of $161.64. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53.

Diageo Announces Dividend

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

About Diageo

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.