Lafayette Investments Inc. Boosts Holdings in Diageo plc (NYSE:DEO)

Lafayette Investments Inc. lifted its stake in Diageo plc (NYSE:DEO) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,764 shares of the company’s stock after purchasing an additional 1,013 shares during the period. Diageo accounts for about 1.6% of Lafayette Investments Inc.’s investment portfolio, making the stock its 17th biggest holding. Lafayette Investments Inc.’s holdings in Diageo were worth $7,826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DEO. Sunbelt Securities Inc. lifted its position in shares of Diageo by 14.8% in the 1st quarter. Sunbelt Securities Inc. now owns 2,737 shares of the company’s stock worth $407,000 after purchasing an additional 352 shares during the period. Brookstone Capital Management purchased a new position in Diageo in the first quarter worth about $305,000. Procyon Advisors LLC raised its holdings in Diageo by 77.3% in the first quarter. Procyon Advisors LLC now owns 14,153 shares of the company’s stock worth $2,105,000 after buying an additional 6,171 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Diageo by 6.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 107,452 shares of the company’s stock worth $15,982,000 after buying an additional 6,927 shares during the last quarter. Finally, Brookmont Capital Management raised its holdings in Diageo by 0.7% in the first quarter. Brookmont Capital Management now owns 13,113 shares of the company’s stock worth $1,950,000 after buying an additional 93 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Performance

Shares of DEO stock traded up $0.08 during trading hours on Thursday, reaching $134.27. The company had a trading volume of 123,363 shares, compared to its average volume of 759,384. The business has a fifty day moving average price of $133.85 and a 200-day moving average price of $133.62. Diageo plc has a one year low of $119.48 and a one year high of $161.64. The firm has a market cap of $74.64 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 3.77 and a beta of 0.69. 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 business also recently declared a semi-annual dividend, which was paid on Thursday, October 17th. Stockholders of record on Friday, August 30th were paid a $1.62 dividend. The ex-dividend date was Friday, August 30th. This represents a dividend yield of 3.2%. Diageo’s dividend payout ratio is presently 71.37%.

Analyst Ratings Changes

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

Diageo 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.