Country Club Bank Reduces Stock Holdings in Diageo plc $DEO

Country Club Bank trimmed its holdings in shares of Diageo plc (NYSE:DEO) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,622 shares of the company’s stock after selling 925 shares during the quarter. Country Club Bank’s holdings in Diageo were worth $866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Euro Pacific Asset Management LLC grew its stake in Diageo by 2.6% during the 2nd quarter. Euro Pacific Asset Management LLC now owns 8,286 shares of the company’s stock worth $837,000 after buying an additional 211 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in Diageo by 1.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 31,209 shares of the company’s stock worth $3,147,000 after acquiring an additional 329 shares during the period. Three Bridge Wealth Advisors LLC lifted its position in Diageo by 5.7% during the 2nd quarter. Three Bridge Wealth Advisors LLC now owns 6,122 shares of the company’s stock worth $617,000 after acquiring an additional 328 shares during the period. Keudell Morrison Wealth Management lifted its position in Diageo by 13.1% during the 2nd quarter. Keudell Morrison Wealth Management now owns 4,385 shares of the company’s stock worth $442,000 after acquiring an additional 507 shares during the period. Finally, Brown Miller Wealth Management LLC lifted its position in Diageo by 17.2% during the 2nd quarter. Brown Miller Wealth Management LLC now owns 5,491 shares of the company’s stock worth $554,000 after acquiring an additional 807 shares during the period. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Diageo Stock Performance

Shares of DEO stock opened at $95.89 on Wednesday. The stock has a market cap of $53.35 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 3.38 and a beta of 0.58. The business has a 50-day simple moving average of $104.49 and a 200-day simple moving average of $106.26. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. Diageo plc has a 52-week low of $93.42 and a 52-week high of $139.96.

Diageo Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be issued a $2.5192 dividend. 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. This represents a dividend yield of 370.0%. Diageo’s payout ratio is presently 46.42%.

About Diageo

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.