Continuum Advisory LLC Raises Holdings in Diageo plc (NYSE:DEO)

Continuum Advisory LLC boosted its stake in shares of Diageo plc (NYSE:DEO) by 23.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,672 shares of the company’s stock after acquiring an additional 317 shares during the quarter. Continuum Advisory LLC’s holdings in Diageo were worth $211,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Scarborough Advisors LLC purchased a new position in shares of Diageo during the 4th quarter valued at approximately $25,000. Triad Wealth Partners LLC purchased a new position in Diageo in the second quarter valued at $25,000. Concord Wealth Partners acquired a new position in shares of Diageo in the first quarter worth about $29,000. Beacon Capital Management LLC boosted its stake in shares of Diageo by 777.3% during the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after acquiring an additional 171 shares in the last quarter. Finally, Addison Advisors LLC grew its position in shares of Diageo by 97.3% during the 4th quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $32,000 after acquiring an additional 107 shares during the period. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Price Performance

NYSE:DEO opened at $128.41 on Wednesday. The stock has a 50 day moving average of $128.26 and a two-hundred day moving average of $138.14. Diageo plc has a 12 month low of $119.48 and a 12 month high of $171.07. The firm has a market cap of $71.38 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 3.55 and a beta of 0.67. 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. Stockholders of record on Friday, August 30th will be paid a $1.62 dividend. This represents a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 30th. Diageo’s dividend payout ratio is presently 71.37%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Diageo presently has a consensus rating of “Hold” and a consensus target price of $2,950.00.

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.