Raleigh Capital Management Inc. Makes New $1.05 Million Investment in Diageo plc (NYSE:DEO)

Raleigh Capital Management Inc. acquired a new position in Diageo plc (NYSE:DEO - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,503 shares of the company's stock, valued at approximately $1,053,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DEO. Arlington Partners LLC increased its position in Diageo by 25.3% during the third quarter. Arlington Partners LLC now owns 31,132 shares of the company's stock worth $4,369,000 after purchasing an additional 6,284 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Diageo by 38.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the company's stock worth $326,000 after purchasing an additional 643 shares during the last quarter. OLD National Bancorp IN lifted its stake in Diageo by 4.1% in the third quarter. OLD National Bancorp IN now owns 4,428 shares of the company's stock worth $621,000 after acquiring an additional 174 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI lifted its stake in Diageo by 4.0% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 45,292 shares of the company's stock worth $6,356,000 after acquiring an additional 1,761 shares during the last quarter. Finally, DMC Group LLC purchased a new position in Diageo in the third quarter worth approximately $240,000. Institutional investors and hedge funds own 8.97% of the company's stock.

Diageo Trading Down 0.3 %

Shares of NYSE DEO traded down $0.36 during mid-day trading on Tuesday, hitting $136.71. The company's stock had a trading volume of 437,487 shares, compared to its average volume of 764,289. The stock has a market cap of $75.99 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 3.77 and a beta of 0.69. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. Diageo plc has a one year low of $119.48 and a one year high of $161.64. The company's fifty day simple moving average is $133.72 and its 200-day simple moving average is $133.61.

Diageo Dividend Announcement

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, October 17th. Investors of record on Friday, August 30th were paid a dividend of $1.62 per share. This represents a yield of 3.2%. The ex-dividend date was Friday, August 30th. Diageo's payout ratio is 71.37%.

Analysts Set New Price Targets

DEO has been the subject of several recent analyst reports. Bank of America upgraded shares of Diageo from a "neutral" rating to a "buy" rating in a research report on Thursday, September 12th. Royal Bank of Canada raised Diageo from an "underperform" rating to a "sector perform" rating in a report on Monday, August 12th. Citigroup upgraded shares of Diageo from a "neutral" rating to a "buy" rating in a research report on Wednesday, July 3rd. Finally, The Goldman Sachs Group cut shares of Diageo from a "neutral" rating to a "sell" rating in a report on Friday, July 12th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Diageo 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.