Resonant Capital Advisors LLC Makes New $217,000 Investment in Diageo plc (NYSE:DEO)

Resonant Capital Advisors LLC purchased a new stake in Diageo plc (NYSE:DEO) in the third quarter, Holdings Channel reports. The firm purchased 1,517 shares of the company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Beacon Capital Management LLC grew its holdings in Diageo by 777.3% in the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after buying an additional 171 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Diageo in the second quarter valued at about $25,000. Concord Wealth Partners acquired a new stake in Diageo during the first quarter worth about $29,000. Triad Wealth Partners LLC acquired a new stake in Diageo during the second quarter worth about $25,000. Finally, Bruce G. Allen Investments LLC raised its stake in Diageo by 1,395.0% during the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock worth $42,000 after purchasing an additional 279 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of DEO stock opened at $137.11 on Tuesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53. The firm has a market cap of $76.22 billion, a P/E ratio of 19.53, a P/E/G ratio of 3.77 and a beta of 0.69. The firm’s 50 day moving average price is $133.55 and its 200-day moving average price is $133.67. Diageo plc has a one year low of $119.48 and a one year high of $161.64.

Diageo Announces Dividend

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. This represents a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 30th. Diageo’s dividend payout ratio (DPR) is 71.37%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. The Goldman Sachs Group lowered Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. Finally, Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Three investment 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’s stock. Based on data from MarketBeat.com, Diageo currently has an average rating of “Hold”.

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.