Diageo plc $DEO Shares Sold by McGinn Penninger Investment Management Inc.

McGinn Penninger Investment Management Inc. decreased its position in Diageo plc (NYSE:DEO) by 18.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,374 shares of the company’s stock after selling 8,528 shares during the quarter. Diageo accounts for about 1.9% of McGinn Penninger Investment Management Inc.’s holdings, making the stock its 23rd biggest holding. McGinn Penninger Investment Management Inc.’s holdings in Diageo were worth $3,311,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. raised its holdings in Diageo by 48.5% in the third quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock valued at $162,410,000 after acquiring an additional 555,509 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Diageo by 8.5% in the third quarter. Envestnet Asset Management Inc. now owns 1,547,626 shares of the company’s stock valued at $147,690,000 after acquiring an additional 121,008 shares in the last quarter. Markel Group Inc. raised its holdings in Diageo by 0.4% in the fourth quarter. Markel Group Inc. now owns 1,371,708 shares of the company’s stock valued at $118,337,000 after acquiring an additional 5,000 shares in the last quarter. Cullen Capital Management LLC raised its holdings in Diageo by 67.5% in the third quarter. Cullen Capital Management LLC now owns 1,309,258 shares of the company’s stock valued at $124,943,000 after acquiring an additional 527,814 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Diageo by 0.3% in the third quarter. JPMorgan Chase & Co. now owns 1,276,576 shares of the company’s stock valued at $121,824,000 after acquiring an additional 4,227 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on DEO shares. BNP Paribas Exane raised shares of Diageo from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a report on Monday, April 20th. HSBC cut shares of Diageo from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. Zacks Research upgraded shares of Diageo from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, Argus upgraded shares of Diageo to a “hold” rating in a research note on Tuesday, March 10th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $116.50.

Diageo Price Performance

Shares of Diageo stock opened at $85.04 on Wednesday. Diageo plc has a 52 week low of $72.45 and a 52 week high of $116.41. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 1.53. The firm’s 50 day moving average is $79.04 and its two-hundred day moving average is $86.23.

Diageo Announces Dividend

The business also recently declared a dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, April 17th will be paid a $0.80 dividend. This represents a yield of 195.0%. The ex-dividend date is Friday, April 17th.

Diageo Company Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.