Allspring Global Investments Holdings LLC Has $558,000 Position in Diageo plc $DEO

Allspring Global Investments Holdings LLC lowered its position in Diageo plc (NYSE:DEO) by 4.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,366 shares of the company’s stock after selling 258 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Diageo were worth $558,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Abound Financial LLC acquired a new stake in Diageo in the first quarter valued at $27,000. TruNorth Capital Management LLC acquired a new stake in shares of Diageo during the 1st quarter worth about $30,000. Truvestments Capital LLC acquired a new stake in shares of Diageo during the 1st quarter worth about $30,000. Cheviot Value Management LLC acquired a new stake in shares of Diageo during the 1st quarter worth about $31,000. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of Diageo by 63.0% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 427 shares of the company’s stock worth $45,000 after buying an additional 165 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research note on Friday. Finally, Bank of America cut their target price on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $119.00.

Diageo Price Performance

NYSE:DEO opened at $96.19 on Friday. Diageo plc has a 52 week low of $93.42 and a 52 week high of $134.71. The firm has a market cap of $53.54 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 4.29 and a beta of 0.58. The firm’s 50-day simple moving average is $102.01 and its 200 day simple moving average is $105.50. 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 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 given a dividend of $2.5192 per share. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. This represents a yield of 516.0%. The ex-dividend date of this dividend is Friday, October 17th. Diageo’s payout ratio is 72.41%.

About Diageo

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.