Naviter Wealth LLC Has $1.64 Million Holdings in Diageo plc (NYSE:DEO)

Naviter Wealth LLC lowered its stake in Diageo plc (NYSE:DEO) by 7.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,544 shares of the company’s stock after selling 930 shares during the period. Naviter Wealth LLC’s holdings in Diageo were worth $1,641,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Diageo by 56.7% in the fourth quarter. Wellington Management Group LLP now owns 677,478 shares of the company’s stock worth $98,681,000 after buying an additional 245,255 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Diageo by 16.4% in the first quarter. QRG Capital Management Inc. now owns 7,185 shares of the company’s stock worth $1,069,000 after buying an additional 1,011 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Diageo by 461.4% in the first quarter. Cetera Investment Advisers now owns 70,630 shares of the company’s stock worth $10,506,000 after buying an additional 58,048 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Diageo by 2,128.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 9,494 shares of the company’s stock worth $1,412,000 after purchasing an additional 9,068 shares during the last quarter. Finally, American National Bank & Trust Co. VA acquired a new position in shares of Diageo during the 1st quarter worth about $4,432,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

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

Diageo Trading Up 1.6 %

Diageo stock opened at $137.96 on Friday. The business has a 50 day moving average price of $133.00 and a two-hundred day moving average price of $133.99. 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 has a market cap of $76.69 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 3.77 and a beta of 0.69. Diageo plc has a 12 month low of $119.48 and a 12 month high of $161.64.

Diageo Announces Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, October 17th. Shareholders of record on Friday, August 30th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a yield of 3.2%. Diageo’s dividend payout ratio (DPR) is 71.37%.

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.