McGinn Penninger Investment Management Inc. Increases Position in Diageo plc $DEO

McGinn Penninger Investment Management Inc. boosted its position in shares of Diageo plc (NYSE:DEO) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 44,727 shares of the company’s stock after purchasing an additional 605 shares during the quarter. Diageo comprises about 2.9% of McGinn Penninger Investment Management Inc.’s holdings, making the stock its 16th biggest holding. McGinn Penninger Investment Management Inc.’s holdings in Diageo were worth $4,510,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DEO. Philip James Wealth Mangement LLC grew its position in shares of Diageo by 81.8% during the second quarter. Philip James Wealth Mangement LLC now owns 33,107 shares of the company’s stock worth $3,338,000 after acquiring an additional 14,895 shares during the last quarter. Martin Capital Partners LLC boosted its holdings in Diageo by 225.8% in the 2nd quarter. Martin Capital Partners LLC now owns 32,525 shares of the company’s stock valued at $3,280,000 after purchasing an additional 22,542 shares in the last quarter. Carnegie Investment Counsel boosted its holdings in Diageo by 2,331.0% in the 1st quarter. Carnegie Investment Counsel now owns 41,036 shares of the company’s stock valued at $4,178,000 after purchasing an additional 39,348 shares in the last quarter. Cobblestone Capital Advisors LLC NY lifted its position in shares of Diageo by 5.1% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 127,388 shares of the company’s stock valued at $12,846,000 after acquiring an additional 6,145 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Diageo during the 1st quarter valued at approximately $4,265,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

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

Diageo Stock Performance

Shares of NYSE:DEO opened at $93.51 on Tuesday. Diageo plc has a 52 week low of $90.50 and a 52 week high of $132.34. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. The firm’s 50 day moving average is $99.50 and its two-hundred day moving average is $104.83.

Diageo Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders 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. The ex-dividend date of this dividend is Friday, October 17th. This represents a dividend yield of 516.0%.

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.