Wedge Capital Management L L P NC Boosts Holdings in Diageo plc (NYSE:DEO)

Wedge Capital Management L L P NC increased its holdings in Diageo plc (NYSE:DEO) by 18.0% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 61,763 shares of the company’s stock after buying an additional 9,426 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Diageo were worth $8,668,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Clearbridge Investments LLC raised its holdings in shares of Diageo by 7.0% during the first quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock valued at $349,785,000 after purchasing an additional 154,497 shares during the last quarter. Markel Group Inc. boosted its holdings in shares of Diageo by 0.5% in the second quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock worth $172,315,000 after buying an additional 6,300 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Diageo by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after buying an additional 74,745 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Diageo by 2.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock valued at $139,504,000 after buying an additional 23,435 shares during the last quarter. Finally, Confluence Investment Management LLC raised its position in Diageo by 10.5% in the second quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock worth $117,474,000 after acquiring an additional 88,159 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Trading Up 0.5 %

NYSE DEO opened at $135.42 on Tuesday. 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 plc has a 1-year low of $119.48 and a 1-year high of $161.64. The business has a 50 day simple moving average of $132.15 and a two-hundred day simple moving average of $134.05.

Diageo Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on DEO shares. The Goldman Sachs Group lowered Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

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.