Pinnacle West Asset Management Inc. Increases Holdings in Diageo plc (NYSE:DEO)

Pinnacle West Asset Management Inc. increased its holdings in shares of Diageo plc (NYSE:DEO) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,590 shares of the company’s stock after acquiring an additional 90 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Diageo were worth $327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Confluence Investment Management LLC bought a new position in shares of Diageo during the 1st quarter valued at about $125,474,000. Public Employees Retirement Association of Colorado boosted its stake in Diageo by 4,665.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 482,713 shares of the company’s stock valued at $70,312,000 after buying an additional 472,583 shares during the last quarter. Saratoga Research & Investment Management purchased a new position in Diageo during the 4th quarter valued at approximately $42,225,000. Wellington Management Group LLP increased its stake in Diageo by 56.7% in the 4th quarter. Wellington Management Group LLP now owns 677,478 shares of the company’s stock worth $98,681,000 after acquiring an additional 245,255 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Diageo by 12,174.6% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 246,229 shares of the company’s stock worth $31,045,000 after acquiring an additional 244,223 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Diageo Trading Down 1.7 %

NYSE:DEO opened at $126.43 on Monday. The firm has a 50-day simple moving average of $128.63 and a 200-day simple moving average of $136.66. Diageo plc has a one year low of $119.48 and a one year 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.

Diageo Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 17th. Investors of record on Friday, August 30th will be paid a $1.62 dividend. This represents a yield of 3.2%. The ex-dividend date is Friday, August 30th.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, The Goldman Sachs Group lowered shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Diageo has an average rating of “Hold”.

Diageo Company Profile

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.