297,153 Shares in Diageo plc (NYSE:DEO) Purchased by ABC Arbitrage SA

ABC Arbitrage SA bought a new stake in shares of Diageo plc (NYSE:DEO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 297,153 shares of the company’s stock, valued at approximately $37,777,000. Diageo makes up 5.4% of ABC Arbitrage SA’s holdings, making the stock its largest holding.

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

Wall Street Analyst Weigh In

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

Diageo Stock Down 1.8 %

DEO opened at $107.45 on Friday. Diageo plc has a twelve month low of $105.72 and a twelve month high of $154.71. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.60. The business has a 50 day moving average price of $121.39 and a 200 day moving average price of $126.16.

Diageo Announces Dividend

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

Diageo Company 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.