Diageo plc (NYSE:DEO) Stake Lifted by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC raised its stake in Diageo plc (NYSE:DEO) by 24.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,113 shares of the company’s stock after buying an additional 1,405 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Diageo were worth $998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Clearbridge Investments LLC lifted its position in Diageo by 7.0% in the 1st quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock valued at $349,785,000 after purchasing an additional 154,497 shares during the last quarter. Markel Group Inc. raised its holdings in shares of Diageo by 0.5% during the second quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock valued at $172,315,000 after buying an additional 6,300 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Diageo by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after buying an additional 74,745 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Diageo by 2.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock worth $139,504,000 after buying an additional 23,435 shares during the period. Finally, Confluence Investment Management LLC grew its holdings in Diageo by 10.5% in the 2nd quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock worth $117,474,000 after buying an additional 88,159 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Trading Up 0.1 %

Shares of DEO stock opened at $133.37 on Tuesday. The stock has a 50-day simple moving average of $134.10 and a 200 day simple moving average of $133.37. The stock has a market capitalization of $74.19 billion, a P/E ratio of 19.00, a P/E/G ratio of 3.84 and a beta of 0.69. Diageo plc has a fifty-two week low of $119.48 and a fifty-two week high of $161.64. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62.

Diageo Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, October 17th. Stockholders of record on Friday, August 30th were given a dividend of $1.62 per share. The ex-dividend date was Friday, August 30th. This represents a dividend yield of 3.2%. Diageo’s dividend payout ratio (DPR) is 71.51%.

Analyst Upgrades and Downgrades

DEO has been the subject of a number of analyst reports. The Goldman Sachs Group lowered Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.