Douglas Lane & Associates LLC Has $62.92 Million Position in Diageo plc (NYSE:DEO)

Douglas Lane & Associates LLC cut its position in shares of Diageo plc (NYSE:DEO) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 448,326 shares of the company’s stock after selling 10,313 shares during the quarter. Douglas Lane & Associates LLC owned 0.08% of Diageo worth $62,918,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DEO. Scarborough Advisors LLC bought a new stake in Diageo in the fourth quarter valued at about $25,000. Triad Wealth Partners LLC bought a new stake in Diageo during the 2nd quarter worth about $25,000. 1620 Investment Advisors Inc. bought a new stake in Diageo during the 2nd quarter worth about $25,000. Concord Wealth Partners acquired a new position in Diageo during the 1st quarter valued at about $29,000. Finally, Beacon Capital Management LLC lifted its position in Diageo by 777.3% during the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after purchasing an additional 171 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Citigroup raised shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group cut shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Finally, Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Diageo Stock Performance

Diageo stock traded up $0.56 during midday trading on Friday, reaching $134.69. The company’s stock had a trading volume of 372,938 shares, compared to its average volume of 767,625. Diageo plc has a 52 week low of $119.48 and a 52 week high of $161.64. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. The business has a 50-day moving average price of $131.85 and a 200-day moving average price of $134.25.

Diageo Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be issued a dividend of $1.62 per share. This represents a dividend yield of 3.2%. The ex-dividend date is Friday, August 30th.

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.