OceanIQ Capital LLC Makes New Investment in Diageo plc $DEO

OceanIQ Capital LLC acquired a new stake in Diageo plc (NYSE:DEO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,052 shares of the company’s stock, valued at approximately $567,000.

A number of other institutional investors have also recently made changes to their positions in DEO. First Trust Advisors LP lifted its stake in Diageo by 12.0% during the first quarter. First Trust Advisors LP now owns 463,572 shares of the company’s stock worth $34,513,000 after purchasing an additional 49,504 shares during the last quarter. CORDA Investment Management LLC. increased its stake in Diageo by 14.5% in the first quarter. CORDA Investment Management LLC. now owns 169,084 shares of the company’s stock valued at $12,588,000 after purchasing an additional 21,446 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Diageo by 10.2% in the first quarter. Gamco Investors INC. ET AL now owns 186,176 shares of the company’s stock valued at $13,861,000 after purchasing an additional 17,241 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Diageo by 53.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company’s stock worth $102,124,000 after purchasing an additional 477,999 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Diageo by 9.5% during the first quarter. Bank of New York Mellon Corp now owns 160,477 shares of the company’s stock worth $11,948,000 after purchasing an additional 13,928 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DEO. UBS Group restated a “neutral” rating on shares of Diageo in a report on Thursday, August 27th. TD Cowen restated a “buy” rating on shares of Diageo in a research note on Monday, August 10th. Loop Capital set a $99.00 price objective on Diageo in a report on Thursday, June 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research report on Friday, July 17th. Finally, Zacks Research raised Diageo from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Diageo presently has an average rating of “Hold” and a consensus target price of $106.25.

Diageo Price Performance

NYSE:DEO opened at $89.19 on Friday. The firm’s fifty day moving average price is $88.10 and its 200 day moving average price is $83.84. The company has a current ratio of 1.60, a quick ratio of 0.62 and a debt-to-equity ratio of 1.53. Diageo plc has a 1-year low of $72.45 and a 1-year high of $111.19.

Diageo Announces Dividend

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

About Diageo

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.