First Horizon Advisors Inc. Reduces Stock Holdings in Diageo plc $DEO

First Horizon Advisors Inc. lessened its stake in shares of Diageo plc (NYSE:DEO) by 15.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,315 shares of the company’s stock after selling 1,120 shares during the quarter. First Horizon Advisors Inc.’s holdings in Diageo were worth $637,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Philip James Wealth Mangement LLC boosted its stake in shares of Diageo by 81.8% during the 2nd quarter. Philip James Wealth Mangement LLC now owns 33,107 shares of the company’s stock worth $3,338,000 after purchasing an additional 14,895 shares during the period. Martin Capital Partners LLC raised its position in Diageo by 225.8% in the 2nd quarter. Martin Capital Partners LLC now owns 32,525 shares of the company’s stock worth $3,280,000 after purchasing an additional 22,542 shares during the period. Carnegie Investment Counsel lifted its stake in Diageo by 2,331.0% in the first quarter. Carnegie Investment Counsel now owns 41,036 shares of the company’s stock worth $4,178,000 after purchasing an additional 39,348 shares during the last quarter. Cobblestone Capital Advisors LLC NY boosted its position in shares of Diageo by 5.1% during the second quarter. Cobblestone Capital Advisors LLC NY now owns 127,388 shares of the company’s stock valued at $12,846,000 after buying an additional 6,145 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Diageo during the first quarter valued at approximately $4,265,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Down 7.0%

DEO opened at $87.31 on Friday. The stock’s fifty day moving average is $98.27 and its two-hundred day moving average is $104.52. Diageo plc has a 52 week low of $86.57 and a 52 week high of $132.34. 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 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 paid a $2.5192 dividend. This represents a yield of 516.0%. This is a boost from Diageo’s previous semi-annual dividend of $1.62. The ex-dividend date of this dividend is Friday, October 17th.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DEO shares. Bank of America decreased their price target on 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 reiterated a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group raised shares of Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.