Fulton Bank N.A. Invests $1.56 Million in Diageo plc (NYSE:DEO)

Fulton Bank N.A. purchased a new position in Diageo plc (NYSE:DEO - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,120 shares of the company's stock, valued at approximately $1,561,000.

A number of other hedge funds have also recently modified their holdings of the company. Value Partners Investments Inc. raised its stake in Diageo by 29.4% in the third quarter. Value Partners Investments Inc. now owns 35,220 shares of the company's stock worth $4,943,000 after buying an additional 8,000 shares in the last quarter. Diversified Trust Co purchased a new position in Diageo during the 3rd quarter valued at about $247,000. GAMMA Investing LLC lifted its position in Diageo by 14.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,387 shares of the company's stock valued at $475,000 after acquiring an additional 440 shares during the period. Eldred Rock Partners LLC lifted its position in Diageo by 120.5% during the 3rd quarter. Eldred Rock Partners LLC now owns 54,769 shares of the company's stock valued at $7,752,000 after acquiring an additional 29,928 shares during the period. Finally, Allied Investment Advisors LLC purchased a new position in Diageo during the 3rd quarter valued at about $8,707,000. Hedge funds and other institutional investors own 8.97% of the company's stock.

Diageo Stock Performance

Shares of DEO stock traded down $1.59 during trading hours on Tuesday, reaching $134.60. The company had a trading volume of 352,067 shares, compared to its average volume of 772,384. The business has a fifty day moving average price of $131.02 and a 200-day moving average price of $134.51. Diageo plc has a one year low of $119.48 and a one year high of $161.64. The firm has a market cap of $74.82 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 3.80 and a beta of 0.69. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.53.

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 paid 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%.

Analyst Ratings Changes

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