Diageo plc (NYSE:DEO) Shares Sold by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc cut its position in shares of Diageo plc (NYSE:DEO) by 7.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,739 shares of the company’s stock after selling 208 shares during the period. Fragasso Financial Advisors Inc’s holdings in Diageo were worth $345,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in Diageo during the fourth quarter worth $25,000. Concord Wealth Partners purchased a new position in Diageo in the 1st quarter valued at about $29,000. Beacon Capital Management LLC boosted its holdings in Diageo by 777.3% in the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after buying an additional 171 shares during the last quarter. Addison Advisors LLC increased its stake in Diageo by 97.3% during the 4th quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $32,000 after buying an additional 107 shares in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new stake in Diageo during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Trading Up 0.9 %

Shares of NYSE DEO traded up $1.08 during mid-day trading on Tuesday, reaching $121.10. The company had a trading volume of 740,834 shares, compared to its average volume of 754,422. The firm has a 50 day simple moving average of $130.12 and a two-hundred day simple moving average of $139.42. Diageo plc has a 52-week low of $119.48 and a 52-week high of $175.06. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73.

Diageo Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DEO. The Goldman Sachs Group downgraded shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $3,375.00.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.