Heartwood Wealth Advisors LLC Buys New Holdings in Diageo plc (NYSE:DEO)

Heartwood Wealth Advisors LLC purchased a new position in Diageo plc (NYSE:DEO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,481 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its holdings in shares of Diageo by 7.0% in the 1st quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock worth $349,785,000 after purchasing an additional 154,497 shares in the last quarter. Markel Group Inc. grew its holdings in shares of Diageo by 0.5% during the second quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock valued at $172,315,000 after buying an additional 6,300 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Diageo by 7.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock worth $142,165,000 after acquiring an additional 74,745 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Diageo by 2.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock worth $139,504,000 after acquiring an additional 23,435 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its position in Diageo by 10.5% in the 2nd quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock valued at $117,474,000 after acquiring an additional 88,159 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of DEO opened at $136.26 on Tuesday. The stock has a 50 day moving average of $130.93 and a 200 day moving average of $134.58. The company has a market capitalization of $75.74 billion, a price-to-earnings ratio of 19.69, 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. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be given a dividend of $1.62 per share. This represents a dividend yield of 3.2%. The ex-dividend date is Friday, August 30th. Diageo’s dividend payout ratio is presently 72.40%.

Analysts Set New Price Targets

A number of brokerages have commented on DEO. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Citigroup raised shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

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.