West Coast Financial LLC Decreases Holdings in Diageo plc (DEO)
West Coast Financial LLC cut its holdings in shares of Diageo plc (NYSE:DEO) by 3.3% in the first quarter, HoldingsChannel.com reports. The fund owned 12,520 shares of the company’s stock after selling 425 shares during the quarter. West Coast Financial LLC’s holdings in Diageo were worth $2,048,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in DEO. Bank of New York Mellon Corp lifted its holdings in shares of Diageo by 661.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 255,087 shares of the company’s stock valued at $36,139,000 after buying an additional 221,590 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in shares of Diageo during the 3rd quarter valued at about $236,000. OmniStar Financial Group Inc. lifted its holdings in Diageo by 17.0% in the 3rd quarter. OmniStar Financial Group Inc. now owns 3,648 shares of the company’s stock worth $517,000 after purchasing an additional 531 shares during the last quarter. Griffin Asset Management Inc. lifted its holdings in Diageo by 5.2% in the 3rd quarter. Griffin Asset Management Inc. now owns 12,838 shares of the company’s stock worth $1,819,000 after purchasing an additional 640 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its holdings in Diageo by 14,075.6% in the 3rd quarter. Rehmann Capital Advisory Group now owns 107,876 shares of the company’s stock worth $761,000 after purchasing an additional 107,115 shares during the last quarter. Hedge funds and other institutional investors own 10.61% of the company’s stock.
Several research firms recently weighed in on DEO. Zacks Investment Research lowered Diageo from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Barclays began coverage on Diageo in a research report on Monday, April 1st. They issued an “overweight” rating on the stock. Investec downgraded Diageo from a “hold” rating to a “sell” rating in a research report on Monday, March 25th. Liberum Capital raised Diageo from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Finally, Sanford C. Bernstein downgraded Diageo from a “market perform” rating to an “underperform” rating in a research report on Friday, January 4th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $164.75.
The company also recently disclosed a semiannual dividend, which was paid on Tuesday, April 16th. Stockholders of record on Friday, March 1st were given a dividend of $1.3688 per share. This represents a dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, February 28th. Diageo’s dividend payout ratio is presently 42.68%.
Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.
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