Grimes & Company Inc. Cuts Position in Diageo PLC (DEO)
Grimes & Company Inc. lowered its position in shares of Diageo PLC (NYSE:DEO) by 12.8% during the second quarter, Holdings Channel reports. The firm owned 2,044 shares of the company’s stock after selling 300 shares during the period. Grimes & Company Inc.’s holdings in Diageo PLC were worth $231,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DEO. Royal Bank of Canada increased its stake in Diageo PLC by 1.2% in the first quarter. Royal Bank of Canada now owns 1,096,853 shares of the company’s stock worth $118,318,000 after buying an additional 12,773 shares in the last quarter. Douglas Lane & Associates LLC increased its stake in Diageo PLC by 1.8% in the second quarter. Douglas Lane & Associates LLC now owns 432,725 shares of the company’s stock worth $48,846,000 after buying an additional 7,767 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in Diageo PLC by 8.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 16,039 shares of the company’s stock worth $1,730,000 after buying an additional 1,300 shares in the last quarter. American Investment Services Inc. bought a new stake in Diageo PLC during the second quarter worth about $306,000. Finally, Telemus Capital LLC bought a new stake in Diageo PLC during the second quarter worth about $201,000. Hedge funds and other institutional investors own 10.97% of the company’s stock.
Diageo PLC (NYSE:DEO) traded up 1.07% during mid-day trading on Thursday, reaching $116.82. 494,278 shares of the company’s stock traded hands. Diageo PLC has a 12-month low of $99.59 and a 12-month high of $117.95. The stock has a market capitalization of $73.32 billion, a PE ratio of 24.62 and a beta of 0.76. The stock has a 50-day moving average price of $114.20 and a 200-day moving average price of $110.50.
The company also recently disclosed a dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Friday, August 12th will be paid a $0.192 dividend. The ex-dividend date of this dividend is Wednesday, August 10th.
A number of analysts have recently issued reports on the stock. HSBC reaffirmed a “hold” rating on shares of Diageo PLC in a report on Thursday, June 30th. Zacks Investment Research downgraded shares of Diageo PLC from a “buy” rating to a “hold” rating in a report on Wednesday, June 15th. Goldman Sachs Group Inc. raised shares of Diageo PLC from a “sell” rating to a “neutral” rating in a report on Tuesday, June 28th. Barclays PLC downgraded shares of Diageo PLC from an “overweight” rating to an “equal weight” rating in a report on Friday, July 8th. Finally, Societe Generale raised shares of Diageo PLC from a “sell” rating to a “hold” rating in a report on Monday, June 27th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $134.28.
Diageo PLC Company Profile
Diageo plc (Diageo) is a drinks business company. The Company is a provider of beverage alcohol of various brands in spirits, beer and wine. The Company produces its brands from more than 200 sites in over 30 countries. Diageo owns manufacturing production facilities across the globe, including maltings, distilleries, breweries, packaging plants, maturation warehouses, cooperages, vineyards, wineries and distribution warehouses.
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