Cascade Investment Advisors Inc. Has $1.21 Million Position in Diageo plc (NYSE:DEO)

Cascade Investment Advisors Inc. raised its holdings in shares of Diageo plc (NYSE:DEO) by 9.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,613 shares of the company’s stock after purchasing an additional 740 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Diageo were worth $1,209,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Scarborough Advisors LLC acquired a new stake in shares of Diageo during the 4th quarter worth about $25,000. Beacon Capital Management LLC lifted its position in Diageo by 777.3% during the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after acquiring an additional 171 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Diageo during the second quarter worth approximately $25,000. Concord Wealth Partners bought a new stake in shares of Diageo during the first quarter worth approximately $29,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Diageo during the second quarter worth approximately $25,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Citigroup raised shares of Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada raised 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, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Diageo Trading Down 0.5 %

Shares of Diageo stock opened at $139.22 on Thursday. 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 plc has a 12-month low of $119.48 and a 12-month high of $161.64. The company has a market capitalization of $77.39 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 3.80 and a beta of 0.69. The firm’s 50-day moving average price is $130.68 and its two-hundred day moving average price is $134.77.

Diageo Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, August 30th. This represents a yield of 3.2%. Diageo’s dividend payout ratio is currently 72.40%.

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.