Granite Investment Advisors LLC trimmed its position in Diageo plc (NYSE:DEO) by 6.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,019 shares of the company’s stock after selling 3,837 shares during the period. Diageo makes up about 1.8% of Granite Investment Advisors LLC’s portfolio, making the stock its 14th largest holding. Granite Investment Advisors LLC’s holdings in Diageo were worth $9,165,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Insight Partners LLC increased its holdings in shares of Diageo by 0.7% in the first quarter. Capital Insight Partners LLC now owns 8,739 shares of the company’s stock valued at $1,430,000 after buying an additional 65 shares in the last quarter. Moody National Bank Trust Division raised its stake in Diageo by 0.6% during the 1st quarter. Moody National Bank Trust Division now owns 10,772 shares of the company’s stock valued at $1,762,000 after purchasing an additional 65 shares during the period. Dubuque Bank & Trust Co. raised its stake in Diageo by 12.0% during the 1st quarter. Dubuque Bank & Trust Co. now owns 645 shares of the company’s stock valued at $106,000 after purchasing an additional 69 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in Diageo by 56.9% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 193 shares of the company’s stock valued at $32,000 after purchasing an additional 70 shares during the period. Finally, Welch Group LLC raised its stake in Diageo by 2.1% during the 1st quarter. Welch Group LLC now owns 3,647 shares of the company’s stock valued at $597,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 10.60% of the company’s stock.

Shares of NYSE:DEO opened at $164.13 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.73 and a current ratio of 1.48. Diageo plc has a 12-month low of $131.43 and a 12-month high of $165.53. The firm has a market cap of $99.82 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 2.86 and a beta of 0.53.

The company also recently announced a semiannual dividend, which was paid on Tuesday, April 16th. Shareholders of record on Friday, March 1st were paid a dividend of $1.3688 per share. This represents a yield of 1.81%. The ex-dividend date of this dividend was Thursday, February 28th. Diageo’s dividend payout ratio (DPR) is currently 42.68%.

Several brokerages have issued reports on DEO. Zacks Investment Research raised shares of Diageo from a “sell” rating to a “hold” rating in a research note on Tuesday. Barclays began coverage on shares of Diageo in a research note on Monday, April 1st. They set an “overweight” rating on the stock. Investec downgraded shares of Diageo from a “hold” rating to a “sell” rating in a research note on Monday, March 25th. Liberum Capital raised shares of Diageo from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Finally, Sanford C. Bernstein downgraded shares of Diageo from a “market perform” rating to an “underperform” rating in a research note on Friday, January 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $164.75.

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Diageo Company Profile

Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.

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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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