3Chopt Investment Partners LLC Purchases New Holdings in Diageo plc (NYSE:DEO)

3Chopt Investment Partners LLC acquired a new position in Diageo plc (NYSE:DEO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,536 shares of the company’s stock, valued at approximately $320,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Scarborough Advisors LLC purchased a new position in shares of Diageo in the 4th quarter worth about $25,000. Beacon Capital Management LLC raised its position in Diageo by 777.3% in 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 period. 1620 Investment Advisors Inc. purchased a new position in Diageo in the second quarter valued at about $25,000. Concord Wealth Partners bought a new position in shares of Diageo during the 1st quarter valued at approximately $29,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Diageo during the 2nd quarter worth approximately $25,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

Shares of NYSE DEO opened at $139.92 on Wednesday. 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 plc has a fifty-two week low of $119.48 and a fifty-two week high of $161.64. The stock has a market cap of $77.78 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 3.80 and a beta of 0.69. The stock has a fifty day moving average of $130.49 and a 200-day moving average of $134.74.

Diageo Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, August 30th will be issued a dividend of $1.62 per share. This represents a yield of 3.2%. The ex-dividend date is Friday, August 30th. Diageo’s payout ratio is presently 72.40%.

Wall Street Analyst Weigh In

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

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.