Charles Schwab Investment Management Inc. Sells 1,890 Shares of Diageo plc $DEO

Charles Schwab Investment Management Inc. cut its position in shares of Diageo plc (NYSE:DEO) by 5.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,828 shares of the company’s stock after selling 1,890 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Diageo were worth $3,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in DEO. Royal Bank of Canada raised its stake in Diageo by 0.3% during the fourth quarter. Royal Bank of Canada now owns 1,540,800 shares of the company’s stock valued at $195,883,000 after buying an additional 3,876 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Diageo by 3.1% in the first quarter. Envestnet Asset Management Inc. now owns 1,441,300 shares of the company’s stock worth $151,034,000 after purchasing an additional 42,740 shares during the last quarter. Confluence Investment Management LLC raised its stake in shares of Diageo by 0.7% in the first quarter. Confluence Investment Management LLC now owns 1,184,987 shares of the company’s stock worth $124,175,000 after purchasing an additional 8,521 shares during the last quarter. Northern Trust Corp raised its stake in shares of Diageo by 39.9% in the fourth quarter. Northern Trust Corp now owns 649,769 shares of the company’s stock worth $82,605,000 after purchasing an additional 185,282 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd raised its stake in shares of Diageo by 0.6% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 623,534 shares of the company’s stock worth $79,270,000 after purchasing an additional 3,919 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DEO has been the subject of several recent analyst reports. The Goldman Sachs Group upgraded Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Morgan Stanley restated an “underweight” rating on shares of Diageo in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Stock Down 0.4%

Diageo stock opened at $111.74 on Friday. The stock has a market cap of $62.16 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 4.00 and a beta of 0.53. 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 $96.45 and a one year high of $142.73. The stock has a fifty day moving average of $106.02 and a 200 day moving average of $107.88.

Diageo Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be given a $2.5192 dividend. The ex-dividend date is Friday, October 17th. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. This represents a yield of 370.0%. Diageo’s dividend payout ratio (DPR) is currently 46.42%.

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.