Hsbc Holdings PLC Acquires 420,778 Shares of Diageo plc (NYSE:DEO)

Hsbc Holdings PLC raised its holdings in shares of Diageo plc (NYSE:DEO) by 416.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 521,920 shares of the company’s stock after acquiring an additional 420,778 shares during the quarter. Hsbc Holdings PLC owned approximately 0.09% of Diageo worth $65,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Scarborough Advisors LLC bought a new stake in Diageo during the fourth quarter valued at about $25,000. Triad Wealth Partners LLC purchased a new position in shares of Diageo during the 2nd quarter valued at about $25,000. 1620 Investment Advisors Inc. purchased a new stake in Diageo in the 2nd quarter worth approximately $25,000. Concord Wealth Partners bought a new stake in Diageo during the 1st quarter worth approximately $29,000. Finally, Beacon Capital Management LLC raised its stake in Diageo by 777.3% during the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after acquiring an additional 171 shares during the period. Institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

DEO has been the subject of a number of analyst reports. The Goldman Sachs Group cut shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Finally, Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Diageo currently has an average rating of “Hold”.

Diageo Stock Up 2.2 %

Shares of DEO stock opened at $135.89 on Friday. The company’s fifty day simple moving average is $129.25 and its two-hundred day simple moving average is $135.59. Diageo plc has a 52 week low of $119.48 and a 52 week high of $161.64. The stock has a market cap of $75.54 billion, a P/E ratio of 19.69, a PEG ratio of 3.84 and a beta of 0.69. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62.

Diageo Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Investors of record on Friday, August 30th will be given a $1.62 dividend. The ex-dividend date is Friday, August 30th. This represents a dividend yield of 3.2%. Diageo’s dividend payout ratio is currently 72.61%.

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.