South State Corp cut its stake in shares of Diageo PLC (NYSE:DEO) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,765 shares of the company’s stock after selling 590 shares during the period. South State Corp’s holdings in Diageo PLC were worth $4,046,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Manitou Investment Management Ltd. lifted its position in Diageo PLC by 11.9% during the second quarter. Manitou Investment Management Ltd. now owns 124,050 shares of the company’s stock valued at $14,865,000 after purchasing an additional 13,200 shares in the last quarter. Capital Fund Management S.A. purchased a new position in Diageo PLC during the second quarter valued at $1,480,000. Pittenger & Anderson Inc. lifted its position in Diageo PLC by 1.1% during the second quarter. Pittenger & Anderson Inc. now owns 13,907 shares of the company’s stock valued at $1,666,000 after purchasing an additional 157 shares in the last quarter. HPM Partners LLC lifted its position in Diageo PLC by 1.0% during the second quarter. HPM Partners LLC now owns 4,168 shares of the company’s stock valued at $499,000 after purchasing an additional 42 shares in the last quarter. Finally, CIBC World Markets Inc. lifted its position in Diageo PLC by 32.1% during the second quarter. CIBC World Markets Inc. now owns 91,851 shares of the company’s stock valued at $11,007,000 after purchasing an additional 22,317 shares in the last quarter. Institutional investors own 11.72% of the company’s stock.

Several equities analysts recently weighed in on DEO shares. Jefferies Group LLC set a $142.00 target price on Diageo PLC and gave the company a “buy” rating in a research report on Thursday, July 27th. Societe Generale upgraded Diageo PLC from a “hold” rating to a “buy” rating in a research report on Monday, June 26th. BidaskClub upgraded Diageo PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Zacks Investment Research upgraded Diageo PLC from a “hold” rating to a “buy” rating and set a $149.00 target price on the stock in a research report on Tuesday, August 22nd. Finally, Citigroup Inc. downgraded Diageo PLC from a “buy” rating to a “neutral” rating in a research report on Thursday, May 25th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Diageo PLC presently has a consensus rating of “Hold” and an average price target of $146.55.

Diageo PLC (DEO) traded up 0.28% during midday trading on Tuesday, reaching $137.36. The company’s stock had a trading volume of 168,624 shares. Diageo PLC has a one year low of $99.46 and a one year high of $137.53. The stock’s 50 day moving average price is $131.08 and its 200-day moving average price is $121.29. The stock has a market cap of $86.31 billion, a price-to-earnings ratio of 25.29 and a beta of 0.75.

The business also recently declared a semiannual dividend, which will be paid on Wednesday, October 11th. Investors of record on Friday, August 11th will be given a dividend of $2.0322 per share. This represents a dividend yield of 3.12%. The ex-dividend date is Wednesday, August 9th. This is an increase from Diageo PLC’s previous semiannual dividend of $1.19.

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About Diageo PLC

Diageo PLC is an alcoholic beverage company. The Company operates in various categories, including spirits and beer. Its geographic segments include North America; Europe, Russia and Turkey; Africa; Latin America and Caribbean, and Asia Pacific. Its principal products includes Scotch whisky, Gin, Vodka, Rum, Beer, Irish Cream Liqueur, Wine, Raki, Tequila, Canadian Whisky, American Whiskey, Progressive Adult Beverages, Cachaca, Brandy and Ready to Drink.

Institutional Ownership by Quarter for Diageo PLC (NYSE:DEO)

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