Addenda Capital Inc. Has $6.43 Million Stock Position in Diageo plc $DEO

Key Points

• Addenda Capital Inc. increased its holdings in Diageo plc by 30.8% during Q2, now owning shares worth $6.43 million.
• The semi-annual dividend announced by Diageo is $2.5192, up from the previous $1.62, with a yield of 370.0% and an ex-dividend date of October 17th.
• Wall Street analysts have a consensus rating of "Hold" for Diageo, with a price target of $119.00, reflecting mixed opinions among analysts.

Addenda Capital Inc. grew its holdings in Diageo plc (NYSE:DEO - Free Report) by 30.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,786 shares of the company's stock after purchasing an additional 15,008 shares during the period. Addenda Capital Inc.'s holdings in Diageo were worth $6,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Perkins Coie Trust Co bought a new position in shares of Diageo in the first quarter valued at $27,000. Barrett & Company Inc. bought a new position in shares of Diageo in the first quarter valued at $27,000. Abound Financial LLC bought a new position in shares of Diageo in the first quarter valued at $27,000. Cheviot Value Management LLC bought a new position in shares of Diageo in the first quarter valued at $31,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Diageo in the first quarter valued at $30,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DEO. Bank of America reduced their price objective on shares of Diageo from $117.00 to $109.00 and set a "buy" rating for the company in a research report on Friday. The Goldman Sachs Group raised shares of Diageo from a "sell" rating to a "neutral" rating in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Diageo presently has a consensus rating of "Hold" and a consensus price target of $119.00.

Diageo Stock Up 0.5%

Shares of NYSE DEO opened at $94.10 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64. The company has a market cap of $52.35 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 3.34 and a beta of 0.59. Diageo plc has a 12 month low of $93.42 and a 12 month high of $142.73. The stock has a 50-day moving average price of $105.80 and a two-hundred day moving average price of $106.85.

Diageo Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be paid a $2.5192 dividend. This is an increase from Diageo's previous semi-annual dividend of $1.62. This represents a dividend yield of 370.0%. The ex-dividend date of this dividend is Friday, October 17th. Diageo's payout ratio is currently 72.55%.

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.

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