Stonegate Investment Group LLC Has $508,000 Stock Holdings in Diageo plc (NYSE:DEO)

Stonegate Investment Group LLC trimmed its holdings in shares of Diageo plc (NYSE:DEO) by 17.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,618 shares of the company’s stock after selling 772 shares during the period. Stonegate Investment Group LLC’s holdings in Diageo were worth $508,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DEO. Triad Wealth Partners LLC acquired a new position in shares of Diageo in the 2nd quarter valued at about $25,000. 1620 Investment Advisors Inc. purchased a new position in Diageo during the second quarter valued at approximately $25,000. Concord Wealth Partners purchased a new position in Diageo during the first quarter valued at approximately $29,000. Beacon Capital Management LLC increased its stake in Diageo by 777.3% in the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after buying an additional 171 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its position in Diageo by 1,395.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock worth $42,000 after buying an additional 279 shares in the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on DEO shares. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Finally, The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Diageo Stock Up 1.1 %

Diageo stock opened at $139.42 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. Diageo plc has a 1-year low of $119.48 and a 1-year high of $161.64. The firm’s fifty day simple moving average is $133.30 and its 200-day simple moving average is $133.93. The company has a market capitalization of $77.50 billion, a P/E ratio of 19.86, a P/E/G ratio of 3.77 and a beta of 0.69.

Diageo Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Thursday, October 17th. Shareholders of record on Friday, August 30th were issued a dividend of $1.62 per share. The ex-dividend date was Friday, August 30th. This represents a yield of 3.2%. Diageo’s dividend payout ratio (DPR) is currently 71.37%.

About Diageo

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.