Empower Advisory Group LLC acquired a new stake in shares of Diageo plc (NYSE:DEO – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,379 shares of the company’s stock, valued at approximately $250,000.
Other institutional investors have also recently made changes to their positions in the company. KMG Fiduciary Partners LLC bought a new position in Diageo during the first quarter valued at $1,239,000. True North Advisors LLC bought a new position in shares of Diageo in the 4th quarter valued at about $1,072,000. Clearbridge Investments LLC grew its position in Diageo by 22.1% in the fourth quarter. Clearbridge Investments LLC now owns 1,519,860 shares of the company’s stock worth $270,824,000 after acquiring an additional 275,377 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in Diageo by 789.9% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 11,577 shares of the company’s stock worth $2,063,000 after acquiring an additional 10,276 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its position in Diageo by 10.5% during the first quarter. Avantax Advisory Services Inc. now owns 7,477 shares of the company’s stock valued at $1,355,000 after purchasing an additional 713 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.
Wall Street Analyst Weigh In
DEO has been the subject of a number of recent research reports. Barclays dropped their target price on Diageo from GBX 4,720 ($59.07) to GBX 4,440 ($55.56) in a report on Wednesday, August 2nd. JPMorgan Chase & Co. reduced their target price on shares of Diageo from GBX 4,500 ($56.31) to GBX 4,000 ($50.06) in a research note on Tuesday, June 20th. Credit Suisse Group dropped their price target on shares of Diageo from GBX 3,850 ($48.18) to GBX 3,800 ($47.55) in a research note on Wednesday, August 9th. The Goldman Sachs Group downgraded shares of Diageo from a “buy” rating to a “neutral” rating in a report on Wednesday, June 14th. Finally, Morgan Stanley lowered Diageo from an “equal weight” rating to an “underweight” rating in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3,898.33.
Diageo Stock Performance
Shares of Diageo stock opened at $158.91 on Monday. The company has a current ratio of 1.63, a quick ratio of 0.62 and a debt-to-equity ratio of 1.67. The stock’s fifty day moving average price is $169.74 and its 200-day moving average price is $174.62. The firm has a market cap of $97.72 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.83 and a beta of 0.68. Diageo plc has a 12 month low of $157.84 and a 12 month high of $191.93.
Diageo Increases Dividend
The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, August 25th will be given a dividend of $2.5089 per share. This is an increase from Diageo’s previous semi-annual dividend of $1.43. The ex-dividend date is Thursday, August 24th. This represents a yield of 2.4%. Diageo’s dividend payout ratio (DPR) is 59.59%.
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.
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