Nicholas Hoffman & Company LLC. Grows Stock Holdings in Diageo plc (NYSE:DEO)

Nicholas Hoffman & Company LLC. grew its stake in Diageo plc (NYSE:DEO) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,212 shares of the company’s stock after purchasing an additional 203 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Diageo were worth $329,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DEO. Fox Run Management L.L.C. purchased a new position in Diageo during the 3rd quarter worth $263,000. Cerity Partners LLC raised its holdings in Diageo by 6.1% during the fourth quarter. Cerity Partners LLC now owns 41,808 shares of the company’s stock worth $6,090,000 after purchasing an additional 2,400 shares in the last quarter. Retirement Planning Co of New England Inc. lifted its position in Diageo by 51.0% in the third quarter. Retirement Planning Co of New England Inc. now owns 8,723 shares of the company’s stock valued at $1,301,000 after purchasing an additional 2,946 shares during the period. Wellington Management Group LLP lifted its position in Diageo by 8.2% in the third quarter. Wellington Management Group LLP now owns 432,223 shares of the company’s stock valued at $64,479,000 after purchasing an additional 32,928 shares during the period. Finally, Rockline Wealth Management LLC purchased a new stake in Diageo in the 4th quarter valued at approximately $1,142,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

Shares of NYSE:DEO traded down $1.06 during midday trading on Tuesday, hitting $138.18. 1,264,346 shares of the stock were exchanged, compared to its average volume of 805,534. Diageo plc has a twelve month low of $135.63 and a twelve month high of $188.23. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73. The company has a 50 day moving average price of $145.90 and a 200-day moving average price of $145.86. The stock has a market cap of $76.97 billion, a P/E ratio of 17.51, a PEG ratio of 3.27 and a beta of 0.66.

Diageo Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, March 1st were issued a $1.62 dividend. This represents a dividend yield of 2.7%. The ex-dividend date was Thursday, February 29th. Diageo’s dividend payout ratio (DPR) is presently 40.81%.

Analysts Set New Price Targets

DEO has been the subject of several recent analyst reports. Argus cut Diageo from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. BNP Paribas cut shares of Diageo from a “neutral” rating to an “underperform” rating in a report on Friday, January 12th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3,797.50.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.