Covington Capital Management reduced its position in Diageo (NYSE:DEO) by 7.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,375 shares of the company’s stock after selling 950 shares during the quarter. Covington Capital Management’s holdings in Diageo were worth $1,661,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in shares of Diageo by 19.1% during the third quarter. Sei Investments Co. now owns 93,393 shares of the company’s stock worth $12,339,000 after purchasing an additional 14,992 shares during the period. Sigma Planning Corp lifted its holdings in shares of Diageo by 26.4% during the third quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock worth $345,000 after purchasing an additional 546 shares during the period. Comerica Bank lifted its holdings in shares of Diageo by 1.9% during the third quarter. Comerica Bank now owns 41,673 shares of the company’s stock worth $5,691,000 after purchasing an additional 792 shares during the period. Allen Investment Management LLC lifted its holdings in shares of Diageo by 1.3% during the third quarter. Allen Investment Management LLC now owns 28,185 shares of the company’s stock worth $3,724,000 after purchasing an additional 375 shares during the period. Finally, Heritage Wealth Advisors acquired a new stake in shares of Diageo during the third quarter worth $218,000. 11.86% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on the company. Zacks Investment Research cut Diageo from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. BNP Paribas cut Diageo from an “outperform” rating to a “neutral” rating in a research report on Monday, January 29th. Royal Bank of Canada cut Diageo from an “outperform” rating to a “sector perform” rating in a research report on Monday, January 29th. They noted that the move was a valuation call. Finally, Macquarie upgraded Diageo from an “underperform” rating to a “neutral” rating in a research report on Wednesday, February 7th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Diageo has a consensus rating of “Hold” and an average price target of $153.00.
Shares of DEO stock opened at $139.17 on Friday. Diageo has a fifty-two week low of $113.67 and a fifty-two week high of $147.62. The firm has a market capitalization of $85,751.02, a PE ratio of 25.21, a PEG ratio of 2.86 and a beta of 0.70. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.31 and a quick ratio of 0.63.
The business also recently disclosed a semiannual dividend, which will be paid on Wednesday, April 11th. Investors of record on Friday, February 23rd will be given a dividend of $1.4232 per share. This represents a yield of 1.96%. The ex-dividend date is Thursday, February 22nd. Diageo’s dividend payout ratio is presently 62.14%.
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Diageo Company Profile
Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray, and Guinness.
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