Diageo plc $DEO Shares Acquired by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC increased its stake in Diageo plc (NYSE:DEO) by 11.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 419,290 shares of the company’s stock after acquiring an additional 44,011 shares during the period. Douglas Lane & Associates LLC owned approximately 0.08% of Diageo worth $42,281,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DEO. BNP Paribas Financial Markets boosted its position in shares of Diageo by 1,544.5% in the first quarter. BNP Paribas Financial Markets now owns 396,676 shares of the company’s stock worth $41,568,000 after acquiring an additional 372,555 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in Diageo during the first quarter valued at approximately $36,050,000. Confluence Investment Management LLC lifted its position in Diageo by 14.0% during the second quarter. Confluence Investment Management LLC now owns 1,350,826 shares of the company’s stock valued at $136,217,000 after buying an additional 165,839 shares in the last quarter. Crestwood Advisors Group LLC acquired a new position in Diageo during the first quarter valued at approximately $16,944,000. Finally, Partners Capital Investment Group LLP acquired a new position in Diageo during the first quarter valued at approximately $4,161,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised shares of Diageo from a “sell” rating to a “neutral” rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $129.00.

Diageo Trading Down 1.9%

DEO opened at $101.77 on Friday. The firm has a market capitalization of $56.62 billion, a P/E ratio of 14.86, a P/E/G ratio of 3.67 and a beta of 0.59. The firm’s 50 day moving average is $107.07 and its 200-day moving average is $107.79. Diageo plc has a 52-week low of $96.45 and a 52-week high of $142.73. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64.

Diageo Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be paid a dividend of $2.5192 per share. This is an increase from Diageo’s previous semi-annual dividend of $1.62. This represents a dividend yield of 370.0%. The ex-dividend date is Friday, October 17th. Diageo’s payout ratio is 72.55%.

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.