Sky Investment Group LLC Cuts Position in Diageo plc (NYSE:DEO)

Sky Investment Group LLC lessened its holdings in Diageo plc (NYSE:DEO) by 5.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,130 shares of the company’s stock after selling 1,498 shares during the quarter. Sky Investment Group LLC’s holdings in Diageo were worth $3,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in Diageo during the second quarter worth about $25,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Diageo during the 2nd quarter worth approximately $25,000. Concord Wealth Partners bought a new stake in shares of Diageo in the 1st quarter worth approximately $29,000. Beacon Capital Management LLC lifted its stake in Diageo by 777.3% in the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after purchasing an additional 171 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its stake in Diageo by 1,395.0% in the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock valued at $42,000 after purchasing an additional 279 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Price Performance

NYSE DEO traded down $0.84 during trading hours on Tuesday, hitting $136.23. The company had a trading volume of 181,119 shares, compared to its average volume of 762,985. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. The firm has a market capitalization of $75.73 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 3.77 and a beta of 0.69. Diageo plc has a 52 week low of $119.48 and a 52 week high of $161.64. The firm has a 50 day simple moving average of $133.55 and a 200 day simple moving average of $133.67.

Diageo Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DEO shares. Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a report 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. Finally, Royal Bank of Canada upgraded shares of 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, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

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.