Ridgewood Investments LLC Invests $118,000 in Diageo plc (NYSE:DEO)

Ridgewood Investments LLC acquired a new stake in shares of Diageo plc (NYSE:DEO) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 934 shares of the company’s stock, valued at approximately $118,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. International Assets Investment Management LLC bought a new position in Diageo during the 4th quarter worth about $15,391,000. Yousif Capital Management LLC grew its holdings in shares of Diageo by 6.6% during the fourth quarter. Yousif Capital Management LLC now owns 9,866 shares of the company’s stock worth $1,437,000 after buying an additional 615 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in Diageo by 1.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 9,670 shares of the company’s stock valued at $1,409,000 after buying an additional 155 shares during the last quarter. Truist Financial Corp lifted its stake in Diageo by 32.8% in the 4th quarter. Truist Financial Corp now owns 153,215 shares of the company’s stock valued at $22,317,000 after acquiring an additional 37,842 shares in the last quarter. Finally, Golden State Equity Partners acquired a new position in Diageo during the 4th quarter worth approximately $264,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on DEO. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Finally, The Goldman Sachs Group downgraded shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2,950.00.

Diageo Stock Up 0.3 %

Shares of NYSE DEO traded up $0.45 during trading hours on Thursday, hitting $133.54. The company had a trading volume of 684,154 shares, compared to its average volume of 772,302. Diageo plc has a 1-year low of $119.48 and a 1-year high of $171.07. The company has a quick ratio of 0.65, a current ratio of 1.58 and a debt-to-equity ratio of 1.73. The firm’s 50 day moving average is $128.55 and its 200-day moving average is $137.59. The stock has a market capitalization of $74.23 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 3.55 and a beta of 0.67.

Diageo Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, August 30th will be paid a $1.62 dividend. This represents a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 30th. Diageo’s dividend payout ratio is currently 71.37%.

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.