Eldred Rock Partners LLC Has $7.75 Million Holdings in Diageo plc (NYSE:DEO)

Eldred Rock Partners LLC raised its holdings in Diageo plc (NYSE:DEO) by 120.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,769 shares of the company’s stock after acquiring an additional 29,928 shares during the period. Diageo comprises about 2.6% of Eldred Rock Partners LLC’s investment portfolio, making the stock its 24th largest holding. Eldred Rock Partners LLC’s holdings in Diageo were worth $7,752,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DEO. Scarborough Advisors LLC acquired a new position in shares of Diageo during the fourth quarter worth about $25,000. Beacon Capital Management LLC grew its holdings in shares of 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 acquiring an additional 171 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Diageo during the second quarter worth about $25,000. Concord Wealth Partners acquired a new position in Diageo during the first quarter valued at approximately $29,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Diageo during the 2nd quarter worth approximately $25,000. 8.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DEO shares. 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 shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Three investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Diageo Stock Performance

DEO traded down $0.07 on Friday, reaching $137.54. The company had a trading volume of 474,584 shares, compared to its average volume of 776,328. The stock has a market cap of $76.45 billion, a P/E ratio of 19.88, a P/E/G ratio of 3.80 and a beta of 0.69. 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 company’s fifty day moving average is $130.93 and its 200 day moving average is $134.74.

Diageo Announces Dividend

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

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.