Penobscot Investment Management Company Inc. Decreases Position in Diageo plc $DEO

Penobscot Investment Management Company Inc. reduced its position in shares of Diageo plc (NYSE:DEO) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,845 shares of the company’s stock after selling 239 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Diageo were worth $892,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DEO. Brighton Jones LLC purchased a new stake in shares of Diageo during the 4th quarter worth $202,000. Rhumbline Advisers lifted its position in shares of Diageo by 6.7% during the 1st quarter. Rhumbline Advisers now owns 4,783 shares of the company’s stock worth $501,000 after purchasing an additional 299 shares during the last quarter. NBC Securities Inc. lifted its position in shares of Diageo by 109,700.0% during the 1st quarter. NBC Securities Inc. now owns 1,098 shares of the company’s stock worth $115,000 after purchasing an additional 1,097 shares during the last quarter. Merit Financial Group LLC lifted its position in shares of Diageo by 151.2% during the 1st quarter. Merit Financial Group LLC now owns 5,024 shares of the company’s stock worth $526,000 after purchasing an additional 3,024 shares during the last quarter. Finally, Procyon Advisors LLC lifted its position in shares of Diageo by 50.9% during the 1st quarter. Procyon Advisors LLC now owns 22,823 shares of the company’s stock worth $2,392,000 after purchasing an additional 7,699 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Trading Down 0.2%

NYSE DEO opened at $96.17 on Friday. 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 has a market cap of $53.50 billion, a PE ratio of 14.04, a P/E/G ratio of 3.45 and a beta of 0.58. Diageo plc has a one year low of $93.42 and a one year high of $139.96. The firm’s fifty day moving average is $104.86 and its two-hundred day moving average is $106.43.

Diageo Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be paid a $2.5192 dividend. This is a boost from Diageo’s previous semi-annual dividend of $1.62. This represents a yield of 370.0%. The ex-dividend date is Friday, October 17th. Diageo’s dividend payout ratio (DPR) is presently 46.42%.

Analysts Set New Price Targets

Several research firms have recently issued reports on DEO. Bank of America decreased their price objective on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, September 26th. The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research note on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.