Probity Advisors Inc. Reduces Stake in Diageo plc (NYSE:DEO)

Probity Advisors Inc. lessened its stake in shares of Diageo plc (NYSE:DEO) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,305 shares of the company’s stock after selling 353 shares during the period. Probity Advisors Inc.’s holdings in Diageo were worth $323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Clearbridge Investments LLC lifted its stake 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 last quarter. Markel Group Inc. raised its holdings in Diageo by 0.5% in the second quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock valued at $172,315,000 after acquiring an additional 6,300 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in 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 grew its holdings in Diageo by 2.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock worth $139,504,000 after acquiring an additional 23,435 shares in the last quarter. Finally, Confluence Investment Management LLC grew its holdings in 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. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

DEO has been the subject of several analyst reports. The Goldman Sachs Group cut shares of Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Diageo Stock Up 1.6 %

Shares of NYSE:DEO opened at $137.96 on Friday. The company has a market capitalization of $76.69 billion, a PE ratio of 19.65, a P/E/G ratio of 3.77 and a beta of 0.69. The firm has a 50 day simple moving average of $133.00 and a 200-day simple moving average of $133.99. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. Diageo plc has a twelve month low of $119.48 and a twelve month high of $161.64.

Diageo Dividend Announcement

The firm also recently announced a semi-annual dividend, which was paid on Thursday, October 17th. Stockholders of record on Friday, August 30th were issued a $1.62 dividend. The ex-dividend date was Friday, August 30th. This represents a dividend yield of 3.2%. Diageo’s payout ratio 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.