Lantz Financial LLC increased its position in shares of Diageo plc (NYSE:DEO – Free Report) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,171 shares of the company’s stock after purchasing an additional 129 shares during the period. Lantz Financial LLC’s holdings in Diageo were worth $1,591,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Holdings LLC acquired a new position in Diageo in the first quarter valued at $33,000. GPS Wealth Strategies Group LLC acquired a new position in Diageo in the first quarter valued at $36,000. Thompson Investment Management Inc. acquired a new position in Diageo in the first quarter valued at $36,000. Almanack Investment Partners LLC. acquired a new stake in shares of Diageo during the third quarter worth about $49,000. Finally, ST Germain D J Co. Inc. boosted its stake in shares of Diageo by 22.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,570 shares of the company’s stock worth $51,000 after buying an additional 285 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.
Wall Street Analysts Forecast Growth
DEO has been the subject of several recent research reports. The Goldman Sachs Group downgraded shares of Diageo from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 14th. Barclays cut their price target on shares of Diageo from GBX 4,720 ($58.47) to GBX 4,440 ($55.00) in a report on Wednesday, August 2nd. StockNews.com assumed coverage on shares of Diageo in a report on Thursday, August 17th. They set a “hold” rating for the company. TD Cowen began coverage on shares of Diageo in a report on Friday. They set a “market perform” rating for the company. Finally, Morgan Stanley cut shares of Diageo from an “equal weight” rating to an “underweight” rating in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Diageo presently has a consensus rating of “Hold” and a consensus target price of $3,898.33.
Diageo Price Performance
NYSE DEO traded up $1.01 during mid-day trading on Tuesday, reaching $158.85. 83,654 shares of the stock were exchanged, compared to its average volume of 389,062. Diageo plc has a 1-year low of $157.30 and a 1-year high of $191.93. The business’s fifty day simple moving average is $169.74 and its 200 day simple moving average is $174.62. The company has a quick ratio of 0.62, a current ratio of 1.63 and a debt-to-equity ratio of 1.67.
Diageo Increases Dividend
The business also recently declared a semi-annual dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, August 25th will be issued a $2.5089 dividend. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 24th. This is a positive change from Diageo’s previous semi-annual dividend of $1.43.
Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.
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