Lafayette Investments Inc. Acquires 1,013 Shares of Diageo plc (NYSE:DEO)

Lafayette Investments Inc. boosted its holdings in shares of Diageo plc (NYSE:DEO) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 55,764 shares of the company’s stock after buying an additional 1,013 shares during the quarter. Diageo accounts for approximately 1.6% of Lafayette Investments Inc.’s portfolio, making the stock its 17th biggest holding. Lafayette Investments Inc.’s holdings in Diageo were worth $7,826,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DEO. Beacon Capital Management LLC lifted its holdings in Diageo by 777.3% during the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after purchasing an additional 171 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Diageo during the second quarter valued at approximately $25,000. Concord Wealth Partners purchased a new position in Diageo during the first quarter valued at approximately $29,000. Triad Wealth Partners LLC purchased a new position in Diageo during the second quarter valued at approximately $25,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in Diageo by 1,395.0% during the third quarter. Bruce G. Allen Investments LLC now owns 299 shares of the company’s stock valued at $42,000 after purchasing an additional 279 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Diageo Price Performance

Shares of DEO stock traded up $0.08 during mid-day trading on Thursday, hitting $134.27. The company had a trading volume of 123,363 shares, compared to its average volume of 759,384. The company has a market capitalization of $74.64 billion, a P/E ratio of 19.12, a P/E/G ratio of 3.77 and a beta of 0.69. The stock’s 50 day moving average price is $133.85 and its 200-day moving average price is $133.62. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. Diageo plc has a 52-week low of $119.48 and a 52-week high of $161.64.

Diageo Announces Dividend

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

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.