Cobblestone Capital Advisors LLC NY Increases Stock Holdings in Diageo plc $DEO

Cobblestone Capital Advisors LLC NY lifted its stake in shares of Diageo plc (NYSE:DEO) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,388 shares of the company’s stock after buying an additional 6,145 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Diageo were worth $12,846,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. boosted its position in shares of Diageo by 0.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 180,923 shares of the company’s stock valued at $18,244,000 after buying an additional 1,649 shares during the last quarter. Whipplewood Advisors LLC boosted its position in shares of Diageo by 84.0% during the second quarter. Whipplewood Advisors LLC now owns 357 shares of the company’s stock valued at $36,000 after buying an additional 163 shares during the last quarter. MQS Management LLC boosted its position in shares of Diageo by 20.2% during the second quarter. MQS Management LLC now owns 5,726 shares of the company’s stock valued at $577,000 after buying an additional 963 shares during the last quarter. Allied Investment Advisors LLC boosted its position in shares of Diageo by 6.3% during the second quarter. Allied Investment Advisors LLC now owns 79,526 shares of the company’s stock valued at $8,019,000 after buying an additional 4,697 shares during the last quarter. Finally, Ranch Capital Advisors Inc. boosted its position in shares of Diageo by 7.3% during the second quarter. Ranch Capital Advisors Inc. now owns 4,308 shares of the company’s stock valued at $434,000 after buying an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on DEO. The Goldman Sachs Group raised Diageo from a “sell” rating to a “neutral” rating in a research report on Thursday, August 7th. Bank of America cut their price objective on Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a research report on Friday, September 26th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research report on Friday. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $119.00.

Diageo Stock Down 0.7%

Shares of DEO opened at $96.19 on Monday. The stock’s fifty day moving average price is $102.01 and its two-hundred day moving average price is $105.51. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. Diageo plc has a 1 year low of $93.42 and a 1 year high of $134.71.

Diageo Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be paid a $2.5192 dividend. The ex-dividend date is Friday, October 17th. This is a boost from Diageo’s previous semi-annual dividend of $1.62. This represents a dividend yield of 516.0%.

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.