First American Bank Lowers Stake in Diageo plc (NYSE:DEO)

First American Bank lessened its position in shares of Diageo plc (NYSE:DEO) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,826 shares of the company’s stock after selling 1,892 shares during the period. First American Bank’s holdings in Diageo were worth $2,221,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its stake in shares of Diageo by 16.4% during the first quarter. QRG Capital Management Inc. now owns 7,185 shares of the company’s stock worth $1,069,000 after purchasing an additional 1,011 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Diageo by 461.4% during the first quarter. Cetera Investment Advisers now owns 70,630 shares of the company’s stock worth $10,506,000 after purchasing an additional 58,048 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Diageo by 2,128.6% during the first quarter. Geneos Wealth Management Inc. now owns 9,494 shares of the company’s stock worth $1,412,000 after purchasing an additional 9,068 shares in the last quarter. American National Bank & Trust Co. VA acquired a new position in shares of Diageo during the first quarter worth about $4,432,000. Finally, Bleakley Financial Group LLC lifted its stake in shares of Diageo by 346.5% during the first quarter. Bleakley Financial Group LLC now owns 25,524 shares of the company’s stock worth $3,796,000 after purchasing an additional 19,808 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Trading Down 0.9 %

NYSE DEO opened at $133.27 on Monday. The firm has a market capitalization of $74.13 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 3.84 and a beta of 0.69. Diageo plc has a one year low of $119.48 and a one year high of $161.64. The company has a 50-day simple moving average of $134.02 and a 200-day simple moving average of $133.42. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53.

Diageo Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Thursday, October 17th. Investors of record on Friday, August 30th were issued a $1.62 dividend. This represents a dividend yield of 3.2%. The ex-dividend date was Friday, August 30th. Diageo’s dividend payout ratio (DPR) is 71.51%.

Wall Street Analyst Weigh In

DEO has been the topic of several recent analyst reports. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

About Diageo

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.