Diageo plc (NYSE:DEO) Shares Sold by Intelligent Financial Strategies

Intelligent Financial Strategies reduced its holdings in Diageo plc (NYSE:DEO) by 27.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,206 shares of the company’s stock after selling 460 shares during the quarter. Intelligent Financial Strategies’ holdings in Diageo were worth $173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Bank of Montreal Can grew its holdings in Diageo by 1,034.5% in the second quarter. Bank of Montreal Can now owns 799,652 shares of the company’s stock valued at $104,443,000 after purchasing an additional 729,166 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Diageo by 416.0% in the 2nd quarter. Hsbc Holdings PLC now owns 521,920 shares of the company’s stock valued at $65,939,000 after purchasing an additional 420,778 shares during the last quarter. Raymond James & Associates grew its stake in shares of Diageo by 52.3% during the 3rd quarter. Raymond James & Associates now owns 853,640 shares of the company’s stock valued at $119,800,000 after buying an additional 293,017 shares during the period. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Diageo by 12,174.6% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 246,229 shares of the company’s stock worth $31,045,000 after buying an additional 244,223 shares during the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Diageo in the 3rd quarter worth $24,995,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Diageo Stock Down 1.3 %

Diageo stock traded down $1.64 during midday trading on Wednesday, hitting $128.52. 284,875 shares of the company were exchanged, compared to its average volume of 753,453. The company has a market cap of $71.49 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 3.84 and a beta of 0.69. Diageo plc has a fifty-two week low of $119.48 and a fifty-two week high of $161.64. The company’s fifty day moving average price is $134.14 and its 200-day moving average price is $133.32. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55.

Diageo Announces Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, October 17th. Stockholders of record on Friday, August 30th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a dividend yield of 3.2%. Diageo’s payout ratio is currently 71.37%.

Diageo 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.