Commonwealth Equity Services LLC Acquires 9,694 Shares of Diageo plc (NYSE:DEO)

Commonwealth Equity Services LLC lifted its stake in Diageo plc (NYSE:DEO) by 11.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,608 shares of the company’s stock after purchasing an additional 9,694 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Diageo were worth $11,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DEO. Confluence Investment Management LLC bought a new stake in shares of Diageo in the first quarter worth approximately $125,474,000. Public Employees Retirement Association of Colorado raised its stake in Diageo by 4,665.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 482,713 shares of the company’s stock valued at $70,312,000 after buying an additional 472,583 shares during the last quarter. Saratoga Research & Investment Management bought a new position in shares of Diageo during the 4th quarter valued at $42,225,000. Wellington Management Group LLP boosted its stake in shares of Diageo by 56.7% in the 4th quarter. Wellington Management Group LLP now owns 677,478 shares of the company’s stock worth $98,681,000 after buying an additional 245,255 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in Diageo by 12,174.6% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 246,229 shares of the company’s stock valued at $31,045,000 after acquiring an additional 244,223 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Diageo Price Performance

Shares of DEO stock opened at $129.43 on Thursday. The company’s 50-day simple moving average is $128.59 and its two-hundred day simple moving average is $137.06. Diageo plc has a one year low of $119.48 and a one year high of $161.64. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53.

Diageo Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be issued a $1.62 dividend. The ex-dividend date is Friday, August 30th. This represents a dividend yield of 3.2%.

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.