Fifth Third Bancorp Decreases Stock Position in Diageo plc (NYSE:DEO)

Fifth Third Bancorp trimmed its stake in shares of Diageo plc (NYSE:DEO) by 37.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,660 shares of the company’s stock after selling 4,598 shares during the quarter. Fifth Third Bancorp’s holdings in Diageo were worth $966,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in shares of Diageo during the fourth quarter worth about $25,000. Triad Wealth Partners LLC acquired a new stake in Diageo in the second quarter valued at approximately $25,000. Concord Wealth Partners purchased a new position in Diageo in the first quarter worth approximately $29,000. Beacon Capital Management LLC grew its holdings in Diageo by 777.3% during the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after acquiring an additional 171 shares in the last quarter. Finally, Addison Advisors LLC increased its position in shares of Diageo by 97.3% in the 4th quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $32,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Trading Up 0.8 %

NYSE DEO opened at $132.36 on Friday. The firm’s fifty day moving average price is $128.23 and its 200 day moving average price is $138.05. Diageo plc has a 12 month low of $119.48 and a 12 month high of $171.07. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 0.65. The company has a market capitalization of $73.57 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 3.55 and a beta of 0.67.

Diageo Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, August 30th will be issued a dividend of $1.62 per share. This represents a dividend yield of 3.2%. The ex-dividend date is Friday, August 30th. Diageo’s payout ratio is 71.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DEO. Citigroup raised shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Finally, The Goldman Sachs Group downgraded Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2,950.00.

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.