On occasion, even when a company turns in a solid performance, an outside force comes along and steals the glory. Just ask beverage purveyor Diageo
The greenback certainly has lost some purchasing power against its British counterpart over the last few years. But, just as it makes little sense to jump on board a stateside company that reports robust earnings because of currency fluctuations, it also makes little sense to abandon shares of a European firm that takes a short-term hit for the same reason.
An argument can be made that Diageo is simply sinking with the general market or that investors just haven't gained faith in the company's new structure. With the company's sale of Pillsbury to General Mills
Diageo has many of the qualities that I admire in Boston Beer Company
For investors, Diageo currently separates itself from this pack with its below-average P/E and a near 4% dividend yield. This large yield and attractive valuation also earned Diageo an Income Investor recommendation earlier this year.
Diageo has had its ups and downs of late, but with shares currently priced near happy-hour-special levels, Diageo offers up an interesting opportunity to invest in a broad spectrum of cash-generating, globally recognized brands at a rather affordable price.
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Fool contributor Nathan Parmelee does not own shares in any of the company's mentioned.