Fifth Third Bancorp Sells 966 Shares of Diageo plc $DEO

Fifth Third Bancorp cut its holdings in shares of Diageo plc (NYSE:DEO) by 15.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,408 shares of the company’s stock after selling 966 shares during the period. Fifth Third Bancorp’s holdings in Diageo were worth $545,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its position in Diageo by 16.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 138,252 shares of the company’s stock worth $14,488,000 after purchasing an additional 19,327 shares in the last quarter. Philip James Wealth Mangement LLC bought a new stake in Diageo in the 1st quarter worth about $1,908,000. Martin Capital Partners LLC grew its position in Diageo by 225.8% in the 2nd quarter. Martin Capital Partners LLC now owns 32,525 shares of the company’s stock worth $3,280,000 after purchasing an additional 22,542 shares in the last quarter. Miracle Mile Advisors LLC grew its position in Diageo by 30.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 40,492 shares of the company’s stock worth $4,243,000 after purchasing an additional 9,366 shares in the last quarter. Finally, Carnegie Investment Counsel grew its position in Diageo by 2,331.0% in the 1st quarter. Carnegie Investment Counsel now owns 41,036 shares of the company’s stock worth $4,178,000 after purchasing an additional 39,348 shares in the last quarter. 8.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group raised shares of Diageo from a “sell” rating to a “neutral” rating in a research report on Thursday, August 7th. Bank of America reduced their price objective on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $119.00.

Diageo Stock Performance

Shares of DEO stock opened at $94.91 on Tuesday. The stock has a market capitalization of $52.80 billion, a P/E ratio of 13.86, a PEG ratio of 3.34 and a beta of 0.59. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64. The firm’s 50 day moving average is $105.65 and its 200 day moving average is $106.75. Diageo plc has a 12 month low of $93.42 and a 12 month high of $141.08.

Diageo Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be paid a dividend of $2.5192 per share. This represents a dividend yield of 370.0%. The ex-dividend date is Friday, October 17th. This is an increase from Diageo’s previous semi-annual dividend of $1.62. Diageo’s dividend payout ratio 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.