Pavion Blue Capital LLC Raises Position in Diageo plc $DEO

Pavion Blue Capital LLC boosted its stake in Diageo plc (NYSE:DEO) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,367 shares of the company’s stock after buying an additional 112 shares during the quarter. Diageo makes up approximately 1.2% of Pavion Blue Capital LLC’s portfolio, making the stock its 24th largest holding. Pavion Blue Capital LLC’s holdings in Diageo were worth $2,659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DEO. BNP Paribas Financial Markets lifted its stake in Diageo by 1,544.5% in the 1st quarter. BNP Paribas Financial Markets now owns 396,676 shares of the company’s stock valued at $41,568,000 after buying an additional 372,555 shares in the last quarter. Orbis Allan Gray Ltd purchased a new position in Diageo in the 1st quarter valued at about $36,050,000. Confluence Investment Management LLC lifted its stake in Diageo by 14.0% in the 2nd quarter. Confluence Investment Management LLC now owns 1,350,826 shares of the company’s stock valued at $136,217,000 after buying an additional 165,839 shares in the last quarter. Crestwood Advisors Group LLC purchased a new position in Diageo in the 1st quarter valued at about $16,944,000. Finally, Partners Capital Investment Group LLP purchased a new position in Diageo in the 1st quarter valued at about $4,161,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Bank of America cut their price objective on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a report on Friday, September 26th. The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $119.00.

Diageo Stock Performance

Shares of NYSE DEO opened at $95.20 on Tuesday. The company has a 50 day simple moving average of $101.70 and a 200-day simple moving average of $105.42. 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 1 year low of $93.42 and a 1 year high of $134.23.

Diageo Increases Dividend

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

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.