Wrapmanager Inc. Decreases Stock Position in Diageo plc (NYSE:DEO)

Wrapmanager Inc. cut its stake in Diageo plc (NYSE:DEO) by 31.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,827 shares of the company’s stock after selling 838 shares during the period. Wrapmanager Inc.’s holdings in Diageo were worth $232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canoe Financial LP raised its stake in Diageo by 88,407.3% in the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after buying an additional 8,104,301 shares in the last quarter. FMR LLC raised its stake in Diageo by 9.1% in the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after buying an additional 437,646 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in 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 stake in Diageo by 30.5% in the third 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 in the last quarter. Finally, JPMorgan Chase & Co. raised 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 buying an additional 229,946 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Down 0.2 %

DEO opened at $110.07 on Wednesday. The business’s 50-day simple moving average is $118.39 and its 200-day simple moving average is $125.33. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. Diageo plc has a one year low of $105.72 and a one year high of $154.71. The stock has a market capitalization of $61.23 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 2.39 and a beta of 0.66.

Diageo Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Friday, February 28th will be given a dividend of $1.62 per share. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, February 28th. Diageo’s dividend payout ratio (DPR) is currently 46.42%.

Analyst Ratings Changes

DEO has been the topic of a number of analyst reports. TD Cowen raised their price target on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $129.00.

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.