GAMMA Investing LLC Increases Position in Diageo plc $DEO

GAMMA Investing LLC lifted its position in shares of Diageo plc (NYSE:DEO) by 31.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,931 shares of the company’s stock after buying an additional 458 shares during the quarter. GAMMA Investing LLC’s holdings in Diageo were worth $195,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Perkins Coie Trust Co bought a new position in shares of Diageo in the first quarter worth about $27,000. Barrett & Company Inc. purchased a new position in Diageo in the 1st quarter worth approximately $27,000. Abound Financial LLC bought a new position in Diageo in the 1st quarter worth approximately $27,000. Cheviot Value Management LLC purchased a new stake in Diageo during the 1st quarter valued at approximately $31,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Diageo during the first quarter valued at approximately $30,000. Institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

DEO stock opened at $94.10 on Monday. Diageo plc has a 52 week low of $93.42 and a 52 week high of $142.73. The firm has a market capitalization of $52.35 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 3.34 and a beta of 0.59. The company has a fifty day simple moving average of $105.80 and a two-hundred day simple moving average of $106.84. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64.

Diageo Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be given a $2.5192 dividend. This is an increase from Diageo’s previous semi-annual dividend of $1.62. This represents a yield of 370.0%. The ex-dividend date is Friday, October 17th. Diageo’s dividend payout ratio (DPR) is 46.42%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America dropped their target price on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday. The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $119.00.

Diageo 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.