Raymond James & Associates Buys 293,017 Shares of Diageo plc (NYSE:DEO)

Raymond James & Associates raised its stake in shares of Diageo plc (NYSE:DEO) by 52.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 853,640 shares of the company’s stock after buying an additional 293,017 shares during the quarter. Raymond James & Associates owned about 0.15% of Diageo worth $119,800,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DEO. Blue Trust Inc. boosted its stake in Diageo by 48.8% in the 3rd quarter. Blue Trust Inc. now owns 4,857 shares of the company’s stock worth $682,000 after purchasing an additional 1,593 shares in the last quarter. KMG Fiduciary Partners LLC raised its holdings in Diageo by 2.0% in the third quarter. KMG Fiduciary Partners LLC now owns 9,620 shares of the company’s stock worth $1,350,000 after buying an additional 189 shares during the last quarter. Aspiriant LLC bought a new position in shares of Diageo in the third quarter worth approximately $235,000. Aaron Wealth Advisors LLC grew its holdings in shares of Diageo by 50.1% during the third quarter. Aaron Wealth Advisors LLC now owns 2,857 shares of the company’s stock valued at $401,000 after buying an additional 954 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of Diageo by 1.1% during the third quarter. Global Retirement Partners LLC now owns 8,146 shares of the company’s stock valued at $1,143,000 after acquiring an additional 85 shares in the last quarter. 8.97% of the stock is owned by institutional investors.

Diageo Stock Performance

Shares of DEO opened at $139.41 on Monday. The firm has a market capitalization of $77.49 billion, a P/E ratio of 19.86, a PEG ratio of 3.77 and a beta of 0.69. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. Diageo plc has a one year low of $119.48 and a one year high of $161.64. The business has a fifty day moving average of $133.30 and a 200 day moving average of $133.73.

Diageo Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. 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 analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average 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.