Saratoga Research & Investment Management Cuts Stock Position in Diageo plc (NYSE:DEO)

Saratoga Research & Investment Management trimmed its holdings in shares of Diageo plc (NYSE:DEO) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 380,788 shares of the company’s stock after selling 6,793 shares during the quarter. Diageo makes up approximately 2.2% of Saratoga Research & Investment Management’s investment portfolio, making the stock its 19th largest position. Saratoga Research & Investment Management owned approximately 0.07% of Diageo worth $48,010,000 as of its most recent SEC filing.

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

Diageo Stock Up 0.3 %

NYSE:DEO opened at $140.77 on Monday. Diageo plc has a 52 week low of $119.48 and a 52 week high of $161.64. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. The stock’s fifty day moving average is $130.05 and its two-hundred day moving average is $134.86. The stock has a market capitalization of $78.25 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 3.80 and a beta of 0.69.

Diageo Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Investors of record on Friday, August 30th will be issued a dividend of $1.62 per share. This represents a yield of 3.2%. The ex-dividend date is Friday, August 30th. Diageo’s dividend payout ratio (DPR) is 72.40%.

Analyst Ratings Changes

DEO has been the topic of a number of recent research reports. Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. The Goldman Sachs Group downgraded shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Citigroup raised shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Diageo currently has a consensus rating of “Hold”.

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.