Keybank National Association OH Cuts Stake in Diageo plc $DEO

Keybank National Association OH reduced its stake in shares of Diageo plc (NYSE:DEO) by 10.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,872 shares of the company’s stock after selling 1,398 shares during the period. Keybank National Association OH’s holdings in Diageo were worth $1,197,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Finally, 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 report on Friday, September 26th. Four equities research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $119.00.

Diageo Trading Up 1.2%

NYSE DEO opened at $92.13 on Monday. 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 one year low of $90.50 and a one year high of $132.34. The company’s 50 day moving average price is $99.90 and its 200 day moving average price is $104.94.

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 paid a dividend of $2.5192 per share. This is an increase from Diageo’s previous semi-annual dividend of $1.62. This represents a dividend yield of 516.0%. The ex-dividend date is Friday, October 17th.

Diageo 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.