SouthState Corp Grows Stock Position in Diageo plc (NYSE:DEO)

SouthState Corp grew its position in shares of Diageo plc (NYSE:DEO) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,920 shares of the company’s stock after buying an additional 857 shares during the period. SouthState Corp’s holdings in Diageo were worth $1,591,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis Advisors L.P. grew its position in shares of Diageo by 55.9% in the fourth quarter. Natixis Advisors L.P. now owns 645,642 shares of the company’s stock valued at $94,044,000 after purchasing an additional 231,396 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Diageo by 26.6% during the third quarter. Envestnet Asset Management Inc. now owns 659,034 shares of the company’s stock valued at $98,315,000 after buying an additional 138,406 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Diageo in the fourth quarter worth about $15,391,000. HS Management Partners LLC boosted its position in shares of Diageo by 16.3% in the fourth quarter. HS Management Partners LLC now owns 706,205 shares of the company’s stock valued at $102,866,000 after acquiring an additional 98,819 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Diageo by 43.5% during the third quarter. The Manufacturers Life Insurance Company now owns 321,606 shares of the company’s stock valued at $47,977,000 after acquiring an additional 97,414 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Diageo Stock Up 0.6 %

NYSE:DEO traded up $0.87 during midday trading on Friday, hitting $137.44. The company had a trading volume of 587,090 shares, compared to its average volume of 799,173. The company has a quick ratio of 0.65, a current ratio of 1.58 and a debt-to-equity ratio of 1.73. Diageo plc has a 52-week low of $135.63 and a 52-week high of $188.23. The stock’s fifty day moving average price is $145.31 and its 200-day moving average price is $145.73.

Diageo Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, April 17th. Stockholders 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.

Analyst Ratings Changes

Several research analysts have commented on the stock. BNP Paribas downgraded shares of Diageo from a “neutral” rating to an “underperform” rating in a report on Friday, January 12th. Argus lowered Diageo from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.