Diageo plc $DEO Shares Sold by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC reduced its holdings in Diageo plc (NYSE:DEO) by 20.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,496 shares of the company’s stock after selling 657 shares during the period. Sagespring Wealth Partners LLC’s holdings in Diageo were worth $252,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Abound Financial LLC acquired a new stake in shares of Diageo in the first quarter worth approximately $27,000. TruNorth Capital Management LLC purchased a new position in Diageo in the 1st quarter valued at $30,000. Truvestments Capital LLC purchased a new position in Diageo in the 1st quarter valued at $30,000. Cheviot Value Management LLC purchased a new position in Diageo in the 1st quarter valued at $31,000. Finally, Financial Network Wealth Advisors LLC lifted its holdings in Diageo by 63.0% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $45,000 after purchasing an additional 165 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Bank of America dropped their price objective on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group raised Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Diageo presently has a consensus rating of “Hold” and an average price target of $119.00.

Diageo Stock Down 1.0%

Shares of DEO opened at $97.69 on Friday. Diageo plc has a 52-week low of $93.42 and a 52-week high of $139.96. The company has a market capitalization of $54.38 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 3.55 and a beta of 0.58. The stock has a fifty day simple moving average of $103.39 and a two-hundred day simple moving average of $105.74. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64.

Diageo Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be given a $2.5192 dividend. The ex-dividend date is Friday, October 17th. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. This represents a yield of 516.0%. Diageo’s dividend payout ratio (DPR) is currently 46.42%.

Diageo 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.