Diageo plc $DEO Position Increased by Three Bridge Wealth Advisors LLC

Three Bridge Wealth Advisors LLC raised its holdings in shares of Diageo plc (NYSE:DEO) by 5.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 6,122 shares of the company’s stock after purchasing an additional 328 shares during the quarter. Three Bridge Wealth Advisors LLC’s holdings in Diageo were worth $617,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DEO. Perkins Coie Trust Co bought a new stake in Diageo during the first quarter worth approximately $27,000. Barrett & Company Inc. bought a new stake in Diageo during the first quarter worth approximately $27,000. Abound Financial LLC bought a new stake in Diageo during the first quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new stake in Diageo during the first quarter worth approximately $30,000. Finally, TruNorth Capital Management LLC bought a new stake in Diageo during the first quarter worth approximately $30,000. 8.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a report on Saturday, September 27th. The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a research report on Thursday, August 7th. Finally, Bank of America reduced their price target on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Diageo has an average rating of “Hold” and an average price target of $119.00.

Diageo Stock Down 0.2%

DEO stock opened at $96.17 on Friday. Diageo plc has a 12-month low of $93.42 and a 12-month high of $139.96. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. The company has a market cap of $53.50 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 3.45 and a beta of 0.58. The company has a 50 day moving average of $104.86 and a two-hundred day moving average of $106.43.

Diageo Increases Dividend

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

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.