Lafayette Investments Inc. Grows Stock Holdings in Diageo plc (NYSE:DEO)

Lafayette Investments Inc. increased its stake in shares of Diageo plc (NYSE:DEO) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,027 shares of the company’s stock after buying an additional 6,993 shares during the quarter. Diageo comprises about 1.9% of Lafayette Investments Inc.’s holdings, making the stock its 17th largest position. Lafayette Investments Inc.’s holdings in Diageo were worth $7,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pinnacle Holdings LLC purchased a new stake in Diageo in the 1st quarter valued at approximately $33,000. Compagnie Lombard Odier SCmA purchased a new stake in Diageo in the 3rd quarter valued at approximately $27,000. PCA Investment Advisory Services Inc. purchased a new stake in Diageo in the 2nd quarter valued at approximately $31,000. Planned Solutions Inc. purchased a new stake in Diageo in the 4th quarter valued at approximately $27,000. Finally, MCF Advisors LLC purchased a new stake in Diageo in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Trading Up 0.3 %

Shares of DEO stock traded up $0.44 during midday trading on Thursday, reaching $140.79. 697,677 shares of the company traded hands, compared to its average volume of 812,047. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 0.65. Diageo plc has a 1-year low of $135.63 and a 1-year high of $190.02. The firm’s 50 day simple moving average is $147.01 and its two-hundred day simple moving average is $146.52.

Diageo Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 1st were given a dividend of $1.62 per share. The ex-dividend date was Thursday, February 29th. This represents a dividend yield of 2.7%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DEO. BNP Paribas lowered Diageo from a “neutral” rating to an “underperform” rating in a report on Friday, January 12th. Argus downgraded shares of Diageo from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, Diageo has an average rating of “Hold” and an average target price of $3,778.00.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.