Diageo plc (NYSE:DEO) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lessened its stake in Diageo plc (NYSE:DEO) by 10.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,181 shares of the company’s stock after selling 609 shares during the period. Lake Street Advisors Group LLC’s holdings in Diageo were worth $653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Clearbridge Investments LLC boosted its position in shares of Diageo by 7.0% in the 1st quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock valued at $349,785,000 after purchasing an additional 154,497 shares during the period. Markel Group Inc. grew its position in shares of Diageo by 0.5% during the second 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 during the last quarter. Confluence Investment Management LLC grew its position in shares of Diageo by 10.5% during the second 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Diageo by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 856,908 shares of the company’s stock valued at $124,817,000 after acquiring an additional 14,789 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Diageo by 14.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 753,578 shares of the company’s stock valued at $109,766,000 after purchasing an additional 94,544 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Trading Down 1.7 %

DEO opened at $126.43 on Friday. Diageo plc has a 1-year low of $119.48 and a 1-year high of $161.64. The stock’s 50 day simple moving average is $128.63 and its 200 day simple moving average is $136.76. 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 company also recently declared a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be given a $1.62 dividend. This represents a dividend yield of 3.2%. The ex-dividend date is Friday, August 30th.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group lowered Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Finally, Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2,950.00.

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.