CIBC Private Wealth Group LLC Raises Stake in Diageo plc $DEO

CIBC Private Wealth Group LLC lifted its stake in Diageo plc (NYSE:DEO) by 4.2% during the third quarter, HoldingsChannel reports. The firm owned 324,473 shares of the company’s stock after purchasing an additional 13,145 shares during the period. CIBC Private Wealth Group LLC’s holdings in Diageo were worth $30,964,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Dorsey & Whitney Trust CO LLC lifted its holdings in Diageo by 3.0% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 3,287 shares of the company’s stock valued at $331,000 after buying an additional 96 shares in the last quarter. Integrated Advisors Network LLC boosted its position in Diageo by 3.5% in the 3rd quarter. Integrated Advisors Network LLC now owns 3,110 shares of the company’s stock valued at $297,000 after buying an additional 104 shares during the period. Retirement Planning Co of New England Inc. grew its stake in Diageo by 2.0% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 5,684 shares of the company’s stock worth $542,000 after acquiring an additional 114 shares in the last quarter. Three Bridge Wealth Advisors LLC grew its stake in Diageo by 2.0% in the 3rd quarter. Three Bridge Wealth Advisors LLC now owns 6,246 shares of the company’s stock worth $596,000 after acquiring an additional 124 shares in the last quarter. Finally, Bridgewater Advisors Inc. increased its position in shares of Diageo by 4.9% during the third quarter. Bridgewater Advisors Inc. now owns 2,702 shares of the company’s stock worth $236,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Trading Down 0.7%

Shares of DEO stock opened at $74.68 on Friday. The stock’s 50-day moving average is $89.63 and its 200 day moving average is $92.44. Diageo plc has a 1-year low of $74.46 and a 1-year high of $116.69. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53.

Diageo Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, June 4th. Stockholders of record on Friday, April 17th will be issued a $0.80 dividend. This represents a dividend yield of 207.0%. The ex-dividend date is Friday, April 17th.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DEO shares. Sanford C. Bernstein set a $124.00 price target on shares of Diageo and gave the company an “outperform” rating in a research note on Monday, December 29th. HSBC cut Diageo from a “buy” rating to a “hold” rating in a research note on Monday, March 2nd. Royal Bank Of Canada raised Diageo from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Diageo in a research report on Friday, November 28th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $116.50.

Diageo Company Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.