CMH Wealth Management LLC Sells 11,413 Shares of Diageo plc $DEO

CMH Wealth Management LLC lessened its position in Diageo plc (NYSE:DEO) by 55.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,150 shares of the company’s stock after selling 11,413 shares during the quarter. CMH Wealth Management LLC’s holdings in Diageo were worth $735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Glenview Trust Co grew its stake in Diageo by 3.7% in the fourth quarter. Glenview Trust Co now owns 2,928 shares of the company’s stock worth $253,000 after purchasing an additional 104 shares during the period. Mission Wealth Management LP lifted its position in Diageo by 4.0% during the 4th quarter. Mission Wealth Management LP now owns 2,992 shares of the company’s stock valued at $258,000 after acquiring an additional 114 shares during the period. Intrust Bank NA boosted its stake in Diageo by 4.4% during the fourth quarter. Intrust Bank NA now owns 3,270 shares of the company’s stock worth $282,000 after acquiring an additional 138 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its stake in Diageo by 5.3% during the fourth quarter. Elevation Point Wealth Partners LLC now owns 2,792 shares of the company’s stock worth $241,000 after acquiring an additional 141 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in Diageo by 2.0% in the fourth quarter. Horizon Investments LLC now owns 7,992 shares of the company’s stock worth $689,000 after purchasing an additional 153 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DEO. Zacks Research raised shares of Diageo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Loop Capital set a $99.00 price target on Diageo in a research note on Thursday, June 18th. UBS Group reiterated a “neutral” rating on shares of Diageo in a research note on Thursday. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Friday, July 17th. Finally, TD Cowen reissued a “buy” rating on shares of Diageo in a research note on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Diageo has a consensus rating of “Hold” and a consensus price target of $106.25.

Diageo Stock Performance

Shares of DEO opened at $91.86 on Tuesday. Diageo plc has a twelve month low of $72.45 and a twelve month high of $112.22. The firm has a 50 day moving average of $87.51 and a 200 day moving average of $84.00. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.62.

Diageo Announces Dividend

The firm also recently announced a dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, October 16th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a dividend yield of 252.0%.

Diageo Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.