Clearbridge Investments LLC Boosts Stock Position in Diageo plc (NYSE:DEO)

Clearbridge Investments LLC boosted its position in shares of Diageo plc (NYSE:DEO) by 5.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,114,467 shares of the company’s stock after acquiring an additional 58,206 shares during the quarter. Clearbridge Investments LLC’s holdings in Diageo were worth $141,682,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Canoe Financial LP lifted its position 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 worth $1,031,465,000 after purchasing an additional 8,104,301 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Diageo by 9.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company’s stock valued at $155,167,000 after buying an additional 103,540 shares during the period. Wellington Management Group LLP grew its stake in shares of Diageo by 6.9% in the third quarter. Wellington Management Group LLP now owns 991,459 shares of the company’s stock worth $139,141,000 after acquiring an additional 64,367 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Diageo in the fourth quarter worth $123,892,000. Finally, Cambiar Investors LLC increased its position in shares of Diageo by 6.8% during the fourth quarter. Cambiar Investors LLC now owns 497,022 shares of the company’s stock worth $63,186,000 after acquiring an additional 31,613 shares during the period. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Performance

Shares of DEO opened at $105.25 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. Diageo plc has a 52-week low of $103.98 and a 52-week high of $149.24. The stock has a 50 day moving average price of $111.55 and a 200 day moving average price of $121.85. The company has a market capitalization of $58.55 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65.

Diageo Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.62 per share. This represents a dividend yield of 3.8%. The ex-dividend date is Friday, February 28th. Diageo’s payout ratio is 46.42%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DEO shares. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. TD Cowen upped their target price on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $129.00.

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.