Norden Group LLC Acquires New Holdings in Diageo plc (NYSE:DEO)

Norden Group LLC acquired a new stake in Diageo plc (NYSE:DEO) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 3,388 shares of the company’s stock, valued at approximately $493,000.

Several other hedge funds have also recently bought and sold shares of DEO. Compagnie Lombard Odier SCmA bought a new stake in shares of Diageo during the 3rd quarter worth about $27,000. Raymond James & Associates raised its position in shares of Diageo by 2.8% during the 3rd quarter. Raymond James & Associates now owns 570,926 shares of the company’s stock worth $85,171,000 after buying an additional 15,543 shares in the last quarter. Canvas Wealth Advisors LLC raised its position in shares of Diageo by 71.4% during the 3rd quarter. Canvas Wealth Advisors LLC now owns 4,144 shares of the company’s stock worth $630,000 after buying an additional 1,726 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Diageo by 29.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 7,274 shares of the company’s stock worth $1,085,000 after buying an additional 1,652 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its position in shares of Diageo by 19.1% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,575 shares of the company’s stock worth $235,000 after buying an additional 253 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BNP Paribas cut shares of Diageo from a “neutral” rating to an “underperform” rating in a research note on Friday, January 12th. Argus cut shares of 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.com, the stock currently has an average rating of “Hold” and a consensus target price of $3,797.50.

Diageo Stock Down 0.8 %

NYSE DEO opened at $138.18 on Wednesday. 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 two-hundred day moving average price of $145.86. Diageo plc has a 12-month low of $135.63 and a 12-month high of $188.23.

Diageo Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 1st were given a dividend of $1.62 per share. This represents a yield of 2.7%. The ex-dividend date was Thursday, February 29th.

Diageo Company Profile

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.