GAMMA Investing LLC Has $475,000 Stock Holdings in Diageo plc (NYSE:DEO)

GAMMA Investing LLC raised its stake in Diageo plc (NYSE:DEO) by 14.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,387 shares of the company’s stock after buying an additional 440 shares during the period. GAMMA Investing LLC’s holdings in Diageo were worth $475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eldred Rock Partners LLC boosted its holdings in shares of Diageo by 120.5% during the 3rd quarter. Eldred Rock Partners LLC now owns 54,769 shares of the company’s stock valued at $7,752,000 after acquiring an additional 29,928 shares in the last quarter. Allied Investment Advisors LLC bought a new position in Diageo in the third quarter valued at about $8,707,000. Park Avenue Securities LLC boosted its stake in shares of Diageo by 7.3% during the third quarter. Park Avenue Securities LLC now owns 12,842 shares of the company’s stock valued at $1,802,000 after purchasing an additional 871 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its holdings in shares of Diageo by 31.9% during the third quarter. Canandaigua National Bank & Trust Co. now owns 5,931 shares of the company’s stock worth $832,000 after purchasing an additional 1,434 shares during the last quarter. Finally, Cascade Investment Advisors Inc. increased its stake in shares of Diageo by 9.4% in the third quarter. Cascade Investment Advisors Inc. now owns 8,613 shares of the company’s stock valued at $1,209,000 after buying an additional 740 shares during the period. Institutional investors own 8.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DEO. The Goldman Sachs Group lowered shares of Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Diageo currently has an average rating of “Hold”.

Diageo Price Performance

DEO stock opened at $134.58 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. The firm has a market cap of $74.81 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 3.80 and a beta of 0.69. The company’s fifty day simple moving average is $131.20 and its 200 day simple moving average is $134.42. Diageo plc has a 12-month low of $119.48 and a 12-month high of $161.64.

Diageo Dividend Announcement

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