Ingalls & Snyder LLC Cuts Position in Diageo plc (NYSE:DEO)

Ingalls & Snyder LLC lowered its holdings in Diageo plc (NYSE:DEO) by 1.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,678 shares of the company’s stock after selling 100 shares during the quarter. Ingalls & Snyder LLC’s holdings in Diageo were worth $849,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DEO. Canoe Financial LP boosted its position in Diageo by 88,407.3% during the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after purchasing an additional 8,104,301 shares during the period. FMR LLC boosted its position in shares of Diageo by 9.1% in the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after buying an additional 437,646 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Diageo by 13.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock valued at $176,042,000 after buying an additional 147,920 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of Diageo by 30.5% during the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after buying an additional 284,046 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Diageo by 25.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock worth $156,759,000 after acquiring an additional 229,946 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on DEO shares. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. TD Cowen boosted their price objective on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $129.00.

Diageo Stock Performance

Diageo stock opened at $109.41 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. Diageo plc has a 12 month low of $105.72 and a 12 month high of $154.71. The company has a fifty day moving average price of $121.67 and a two-hundred day moving average price of $126.28.

Diageo Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be given a $1.62 dividend. This represents a yield of 3.8%. The ex-dividend date of this dividend is Friday, February 28th.

Diageo Profile

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.