Levin Capital Strategies L.P. Decreases Stake in Diageo plc $DEO

Levin Capital Strategies L.P. lowered its stake in Diageo plc (NYSE:DEO) by 13.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,093 shares of the company’s stock after selling 7,873 shares during the period. Levin Capital Strategies L.P.’s holdings in Diageo were worth $5,152,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Venturi Wealth Management LLC raised its holdings in shares of Diageo by 3.6% in the first quarter. Venturi Wealth Management LLC now owns 2,582 shares of the company’s stock worth $271,000 after buying an additional 89 shares during the last quarter. SageView Advisory Group LLC raised its holdings in shares of Diageo by 1.7% in the first quarter. SageView Advisory Group LLC now owns 5,450 shares of the company’s stock worth $571,000 after buying an additional 89 shares during the last quarter. Pinnacle West Asset Management Inc. raised its holdings in shares of Diageo by 3.2% in the first quarter. Pinnacle West Asset Management Inc. now owns 3,240 shares of the company’s stock worth $340,000 after buying an additional 100 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in shares of Diageo by 2.9% during the second quarter. Aaron Wealth Advisors LLC now owns 3,541 shares of the company’s stock worth $357,000 after purchasing an additional 101 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of Diageo by 2.1% during the first quarter. Kestra Private Wealth Services LLC now owns 5,345 shares of the company’s stock worth $560,000 after purchasing an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Trading Up 1.5%

DEO opened at $93.51 on Tuesday. Diageo plc has a fifty-two week low of $90.50 and a fifty-two week high of $132.34. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. The company has a fifty day moving average of $99.50 and a two-hundred day moving average of $104.83.

Diageo Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be issued a $2.5192 dividend. The ex-dividend date of this dividend is Friday, October 17th. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. This represents a yield of 516.0%.

Analysts Set New Price Targets

DEO has been the subject of several recent research reports. Bank of America reduced their target price on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a report on Friday, September 26th. The Goldman Sachs Group raised shares of Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $119.00.

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.