Eagle Ridge Investment Management Decreases Position in Diageo plc (NYSE:DEO)

Eagle Ridge Investment Management lowered its stake in shares of Diageo plc (NYSE:DEO) by 12.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,815 shares of the company’s stock after selling 405 shares during the period. Eagle Ridge Investment Management’s holdings in Diageo were worth $485,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Financial Gravity Wealth Inc. purchased a new stake in shares of Diageo during the 1st quarter worth approximately $27,000. TRUE Private Wealth Advisors purchased a new stake in shares of Diageo during the 2nd quarter worth approximately $29,000. Meridian Wealth Management LLC purchased a new stake in shares of Diageo during the 2nd quarter worth approximately $33,000. TCG Advisors LP purchased a new stake in shares of Diageo during the 1st quarter worth approximately $41,000. Finally, Manchester Financial Inc. purchased a new stake in shares of Diageo during the 2nd quarter worth approximately $45,000. Institutional investors own 10.68% of the company’s stock.

Several brokerages have recently issued reports on DEO. Kepler Capital Markets lowered shares of Diageo from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Zacks Investment Research upgraded shares of Diageo from a “sell” rating to a “hold” rating and set a $178.00 price target for the company in a research note on Monday, May 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $178.00.

DEO traded up $2.62 on Thursday, hitting $165.40. The company’s stock had a trading volume of 11,781 shares, compared to its average volume of 431,891. The stock’s 50 day simple moving average is $168.96. The stock has a market cap of $101.06 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 2.84 and a beta of 0.47. Diageo plc has a 12 month low of $131.43 and a 12 month high of $176.07. The company has a current ratio of 1.34, a quick ratio of 0.56 and a debt-to-equity ratio of 1.06.

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, October 8th. Investors of record on Friday, August 9th will be issued a $2.111 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This is an increase from Diageo’s previous Semi-Annual dividend of $0.19. Diageo’s dividend payout ratio (DPR) is 62.52%.

About Diageo

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.

See Also: Asset Allocation Models, Which is Right For You?

Want to see what other hedge funds are holding DEO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diageo plc (NYSE:DEO).

Institutional Ownership by Quarter for Diageo (NYSE:DEO)

Receive News & Ratings for Diageo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diageo and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit