Ethic Inc. Cuts Position in Diageo plc $DEO

Ethic Inc. lowered its stake in shares of Diageo plc (NYSE:DEO) by 16.0% during the second quarter, Holdings Channel reports. The fund owned 12,925 shares of the company’s stock after selling 2,467 shares during the period. Ethic Inc.’s holdings in Diageo were worth $1,298,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of DEO. Brighton Jones LLC purchased a new stake in shares of Diageo during the fourth quarter worth $202,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Diageo by 1.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,788 shares of the company’s stock worth $4,065,000 after acquiring an additional 703 shares during the period. Bessemer Group Inc. increased its position in shares of Diageo by 26.9% during the first quarter. Bessemer Group Inc. now owns 2,697 shares of the company’s stock worth $283,000 after acquiring an additional 572 shares during the period. 3Chopt Investment Partners LLC purchased a new position in Diageo in the first quarter valued at $214,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Diageo by 96.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,624 shares of the company’s stock valued at $588,000 after buying an additional 2,762 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

NYSE DEO opened at $96.19 on Monday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. Diageo plc has a 1 year low of $93.42 and a 1 year high of $134.71. The company has a fifty day moving average of $102.01 and a two-hundred day moving average of $105.51.

Diageo Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be paid a $2.5192 dividend. This is a boost from Diageo’s previous semi-annual dividend of $1.62. This represents a yield of 516.0%. The ex-dividend date is Friday, October 17th.

Analyst Ratings Changes

Several research firms recently commented on DEO. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Friday. The Goldman Sachs Group raised Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Finally, Bank of America dropped their target price on Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $119.00.

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.