Beacon Investment Advisors LLC Makes New Investment in Diageo plc (NYSE:DEO)

Beacon Investment Advisors LLC purchased a new position in Diageo plc (NYSE:DEO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,555 shares of the company’s stock, valued at approximately $2,867,000. Diageo makes up approximately 1.3% of Beacon Investment Advisors LLC’s holdings, making the stock its 20th largest holding.

Other hedge funds also recently made changes to their positions in the company. CoreFirst Bank & Trust bought a new position in shares of Diageo during the fourth quarter valued at about $25,000. Eastern Bank increased its stake in shares of Diageo by 107.8% in the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after buying an additional 125 shares during the period. Modus Advisors LLC bought a new stake in Diageo during the 4th quarter valued at $35,000. Kestra Investment Management LLC purchased a new stake in Diageo during the 4th quarter valued at $36,000. Finally, Heck Capital Advisors LLC bought a new stake in Diageo in the 4th quarter worth $47,000. 8.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DEO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Berenberg Bank began coverage on shares of Diageo in a report on Wednesday, April 2nd. They issued a “buy” rating for the company. Finally, TD Cowen boosted their price target on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $129.00.

Diageo Trading Up 1.1 %

Shares of NYSE DEO opened at $109.39 on Monday. Diageo plc has a 1 year low of $100.72 and a 1 year high of $144.27. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The firm has a 50-day moving average of $107.87 and a 200 day moving average of $118.43. The stock has a market cap of $60.85 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63.

Diageo Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be paid a $1.62 dividend. The ex-dividend date is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo’s payout ratio is currently 46.42%.

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.