Granite Investment Advisors LLC Decreases Stake in Diageo plc (NYSE:DEO)

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Granite Investment Advisors LLC lowered its stake in Diageo plc (NYSE:DEO) by 2.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 37,857 shares of the company’s stock after selling 899 shares during the period. Diageo makes up 1.0% of Granite Investment Advisors LLC’s investment portfolio, making the stock its 29th largest position. Granite Investment Advisors LLC’s holdings in Diageo were worth $5,211,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Glenview Trust Co raised its holdings in shares of Diageo by 1.8% during the second quarter. Glenview Trust Co now owns 4,218 shares of the company’s stock worth $567,000 after purchasing an additional 75 shares during the last quarter. TFG Advisers LLC raised its holdings in shares of Diageo by 3.2% during the second quarter. TFG Advisers LLC now owns 2,429 shares of the company’s stock worth $326,000 after purchasing an additional 76 shares during the last quarter. Certified Advisory Corp raised its holdings in shares of Diageo by 42.9% during the second quarter. Certified Advisory Corp now owns 270 shares of the company’s stock worth $36,000 after purchasing an additional 81 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Diageo by 39.3% during the second quarter. Harbor Investment Advisory LLC now owns 294 shares of the company’s stock worth $40,000 after purchasing an additional 83 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich grew its position in Diageo by 3.4% during the second quarter. Lester Murray Antman dba SimplyRich now owns 2,662 shares of the company’s stock valued at $357,000 after buying an additional 87 shares during the period. 10.17% of the stock is owned by hedge funds and other institutional investors.

NYSE DEO traded up $1.79 on Friday, hitting $138.52. 408,685 shares of the stock were exchanged, compared to its average volume of 538,865. The company has a quick ratio of 0.88, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. Diageo plc has a fifty-two week low of $100.52 and a fifty-two week high of $171.29. The company has a market cap of $88.72 billion, a PE ratio of 25.19, a PEG ratio of 3.69 and a beta of 0.55. The company has a 50-day moving average price of $135.49 and a 200-day moving average price of $137.48.

The company also recently declared a semi-annual dividend, which was paid on Wednesday, October 14th. Shareholders of record on Friday, August 14th were issued a dividend of $1.3623 per share. This represents a yield of 2.5%. The ex-dividend date of this dividend was Thursday, August 13th. Diageo’s dividend payout ratio (DPR) is presently 79.45%.

Several research firms recently commented on DEO. AlphaValue upgraded shares of Diageo to a “buy” rating in a research report on Wednesday, July 8th. Credit Suisse Group restated a “neutral” rating on shares of Diageo in a research report on Thursday, August 6th. Morgan Stanley restated an “equal weight” rating on shares of Diageo in a research report on Monday, October 5th. Royal Bank of Canada restated a “sector perform” rating on shares of Diageo in a research report on Thursday, August 6th. Finally, Barclays restated an “overweight” rating on shares of Diageo in a research report on Friday, August 14th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $145.00.

Diageo Company Profile

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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Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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