Mill Capital Management LLC Lowers Stake in Diageo plc $DEO

Mill Capital Management LLC reduced its holdings in shares of Diageo plc (NYSE:DEO) by 15.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,924 shares of the company’s stock after selling 1,417 shares during the period. Mill Capital Management LLC’s holdings in Diageo were worth $799,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Abound Financial LLC purchased a new position in Diageo during the 1st quarter worth $27,000. Cheviot Value Management LLC purchased a new stake in shares of Diageo in the first quarter valued at about $31,000. Truvestments Capital LLC purchased a new stake in shares of Diageo in the first quarter valued at about $30,000. TruNorth Capital Management LLC acquired a new stake in shares of Diageo in the first quarter valued at about $30,000. Finally, Whipplewood Advisors LLC lifted its stake in shares of Diageo by 84.0% in the second quarter. Whipplewood Advisors LLC now owns 357 shares of the company’s stock valued at $36,000 after purchasing an additional 163 shares during the period. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Performance

NYSE:DEO opened at $92.13 on Friday. The firm has a 50 day simple moving average of $99.90 and a 200-day simple moving average of $104.98. 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 $90.50 and a 1-year high of $132.34.

Diageo Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Bank of America reduced their price objective on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group upgraded shares of 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 assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.