Diageo plc $DEO Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. cut its holdings in Diageo plc (NYSE:DEO) by 2.6% during the second quarter, HoldingsChannel reports. The firm owned 8,845 shares of the company’s stock after selling 239 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Diageo were worth $892,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Perkins Coie Trust Co purchased a new stake in shares of Diageo in the first quarter valued at about $27,000. Barrett & Company Inc. purchased a new stake in shares of Diageo in the first quarter valued at about $27,000. Abound Financial LLC purchased a new stake in shares of Diageo in the first quarter valued at about $27,000. Cheviot Value Management LLC purchased a new stake in Diageo during the first quarter worth about $31,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Diageo during the first quarter worth about $30,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Trading Down 0.2%

Shares of Diageo stock opened at $96.17 on Friday. The business has a 50 day moving average price of $104.86 and a 200 day moving average price of $106.43. The company has a market capitalization of $53.50 billion, a P/E ratio of 14.04, a P/E/G ratio of 3.45 and a beta of 0.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64. Diageo plc has a 1 year low of $93.42 and a 1 year high of $139.96.

Diageo Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be given a dividend of $2.5192 per share. The ex-dividend date of this dividend is Friday, October 17th. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. This represents a yield of 370.0%. Diageo’s dividend payout ratio (DPR) is 46.42%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DEO shares. Bank of America decreased their price objective on shares of Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Saturday, September 27th. Finally, The Goldman Sachs Group raised shares of Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Diageo has a consensus rating of “Hold” and an average price target of $119.00.

Diageo Company 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.