Step Capital Management Pte. Ltd. Makes New $690,000 Investment in Diageo plc $DEO

Step Capital Management Pte. Ltd. purchased a new stake in Diageo plc (NYSE:DEO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,000 shares of the company’s stock, valued at approximately $690,000. Diageo makes up about 0.3% of Step Capital Management Pte. Ltd.’s investment portfolio, making the stock its 17th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of Diageo during the 2nd quarter worth about $26,000. Arlington Trust Co LLC increased its position in Diageo by 3,885.7% in the 3rd quarter. Arlington Trust Co LLC now owns 279 shares of the company’s stock valued at $27,000 after buying an additional 272 shares in the last quarter. Spire Wealth Management raised its stake in Diageo by 123.6% during the 4th quarter. Spire Wealth Management now owns 322 shares of the company’s stock worth $28,000 after buying an additional 178 shares during the period. New England Capital Financial Advisors LLC acquired a new position in Diageo during the 3rd quarter worth approximately $29,000. Finally, Texas Capital Bancshares Inc TX bought a new position in Diageo in the third quarter worth approximately $32,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DEO. Royal Bank Of Canada raised Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. BNP Paribas Exane upgraded Diageo from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 25th. Barclays reissued an “overweight” rating on shares of Diageo in a research report on Thursday, December 11th. Zacks Research upgraded shares of Diageo from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, HSBC downgraded shares of Diageo from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $116.50.

Diageo Price Performance

NYSE DEO opened at $73.35 on Monday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. The business has a fifty day simple moving average of $86.08 and a 200 day simple moving average of $89.79. Diageo plc has a 12 month low of $72.45 and a 12 month high of $116.69.

Diageo Announces Dividend

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

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.