Canandaigua National Bank & Trust Co. Increases Position in Diageo plc (NYSE:DEO)

Canandaigua National Bank & Trust Co. raised its position in Diageo plc (NYSE:DEO) by 31.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,931 shares of the company’s stock after purchasing an additional 1,434 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Diageo were worth $832,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of DEO. Scarborough Advisors LLC purchased a new stake in shares of Diageo in the 4th quarter valued at approximately $25,000. Triad Wealth Partners LLC acquired a new stake in Diageo during the 2nd quarter worth $25,000. 1620 Investment Advisors Inc. acquired a new stake in Diageo during the 2nd quarter worth $25,000. Concord Wealth Partners purchased a new position in Diageo during the 1st quarter worth $29,000. Finally, Beacon Capital Management LLC raised its position 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 buying an additional 171 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Price Performance

Shares of DEO traded down $0.07 during trading hours on Friday, reaching $137.54. The company had a trading volume of 474,584 shares, compared to its average volume of 776,328. The firm has a 50 day simple moving average of $130.93 and a 200-day simple moving average of $134.74. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $76.45 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 3.80 and a beta of 0.69. Diageo plc has a 12-month low of $119.48 and a 12-month high of $161.64.

Diageo Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be issued 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 presently 72.40%.

Wall Street Analysts Forecast Growth

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