Diageo plc (NYSE:DEO) Position Raised by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. raised its stake in Diageo plc (NYSE:DEO) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,815 shares of the company’s stock after buying an additional 225 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Diageo were worth $395,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of DEO. Triad Wealth Partners LLC bought a new position in shares of Diageo in the second quarter valued at $25,000. 1620 Investment Advisors Inc. bought a new position in shares of Diageo in the second quarter valued at $25,000. Concord Wealth Partners bought a new position in shares of Diageo in the first quarter valued at $29,000. Beacon Capital Management LLC increased its holdings in shares of Diageo by 777.3% in the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after buying an additional 171 shares in the last quarter. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of Diageo by 1,395.0% in the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock valued at $42,000 after buying an additional 279 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Diageo Stock Down 0.0 %

NYSE:DEO traded down $0.01 during trading hours on Thursday, hitting $134.18. 210,018 shares of the stock traded hands, compared to its average volume of 759,976. The firm has a 50 day moving average price of $133.85 and a 200 day moving average price of $133.62. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. Diageo plc has a fifty-two week low of $119.48 and a fifty-two week high of $161.64. The firm has a market cap of $74.59 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 3.77 and a beta of 0.69.

Diageo Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Thursday, October 17th. Stockholders of record on Friday, August 30th were issued a dividend of $1.62 per share. This represents a dividend yield of 3.2%. The ex-dividend date was Friday, August 30th. Diageo’s dividend payout ratio is currently 71.37%.

Wall Street Analysts Forecast Growth

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

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.