Diageo plc $DEO Shares Sold by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd decreased its position in shares of Diageo plc (NYSE:DEO) by 72.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 519 shares of the company’s stock after selling 1,357 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Diageo were worth $52,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its position in shares of Diageo by 3.6% during the 1st quarter. Venturi Wealth Management LLC now owns 2,582 shares of the company’s stock valued at $271,000 after acquiring an additional 89 shares during the last quarter. SageView Advisory Group LLC boosted its position in shares of Diageo by 1.7% during the 1st quarter. SageView Advisory Group LLC now owns 5,450 shares of the company’s stock valued at $571,000 after acquiring an additional 89 shares during the last quarter. Pinnacle West Asset Management Inc. boosted its position in shares of Diageo by 3.2% during the 1st quarter. Pinnacle West Asset Management Inc. now owns 3,240 shares of the company’s stock valued at $340,000 after acquiring an additional 100 shares during the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of Diageo by 2.9% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,541 shares of the company’s stock valued at $357,000 after acquiring an additional 101 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in Diageo by 2.1% in the first quarter. Kestra Private Wealth Services LLC now owns 5,345 shares of the company’s stock valued at $560,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

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

Diageo Stock Down 0.7%

DEO stock opened at $96.19 on Friday. The company’s 50 day moving average price is $102.01 and its 200 day moving average price is $105.52. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. Diageo plc has a fifty-two week low of $93.42 and a fifty-two week high of $134.71.

Diageo Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be paid a dividend of $2.5192 per share. The ex-dividend date is Friday, October 17th. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. This represents a dividend yield of 516.0%.

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.