Norden Group LLC Acquires 372 Shares of Diageo plc (NYSE:DEO)

Norden Group LLC boosted its holdings in Diageo plc (NYSE:DEO) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,492 shares of the company’s stock after acquiring an additional 372 shares during the quarter. Norden Group LLC’s holdings in Diageo were worth $698,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Canoe Financial LP boosted its position 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 boosted its position 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 boosted its position 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 boosted its position 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. boosted its position 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. Institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

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

Diageo Price Performance

DEO opened at $109.10 on Tuesday. Diageo plc has a one year low of $105.72 and a one year high of $151.76. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The company’s 50 day simple moving average is $117.06 and its 200-day simple moving average is $124.80. The stock has a market capitalization of $60.69 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 2.39 and a beta of 0.66.

Diageo Announces Dividend

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

About Diageo

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.