Park Place Capital Corp Grows Stock Position in Diageo plc (NYSE:DEO)

Park Place Capital Corp lifted its stake in Diageo plc (NYSE:DEO) by 7,219.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,635 shares of the company’s stock after buying an additional 2,599 shares during the period. Park Place Capital Corp’s holdings in Diageo were worth $370,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DEO. Confluence Investment Management LLC purchased a new position in shares of Diageo in the first quarter worth about $125,474,000. Bank of Montreal Can increased its holdings in Diageo by 1,034.5% during the 2nd quarter. Bank of Montreal Can now owns 799,652 shares of the company’s stock valued at $104,443,000 after purchasing an additional 729,166 shares during the period. Hsbc Holdings PLC increased its holdings in Diageo by 416.0% during the 2nd quarter. Hsbc Holdings PLC now owns 521,920 shares of the company’s stock valued at $65,939,000 after purchasing an additional 420,778 shares during the period. Wellington Management Group LLP increased its holdings in Diageo by 56.7% during the 4th quarter. Wellington Management Group LLP now owns 677,478 shares of the company’s stock valued at $98,681,000 after purchasing an additional 245,255 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in Diageo by 12,174.6% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 246,229 shares of the company’s stock valued at $31,045,000 after purchasing an additional 244,223 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of DEO opened at $134.35 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. The business’s 50 day moving average price is $131.02 and its 200-day moving average price is $134.51. 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 $74.68 billion, a P/E ratio of 19.41, a P/E/G ratio of 3.80 and a beta of 0.69.

Diageo Announces Dividend

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 given a $1.62 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a dividend yield of 3.2%. Diageo’s dividend payout ratio is currently 72.40%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DEO. Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada upgraded Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. The Goldman Sachs Group downgraded Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Finally, Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Diageo Company 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.