Naviter Wealth LLC Purchases 1,198 Shares of Diageo plc (NYSE:DEO)

Naviter Wealth LLC grew its position in Diageo plc (NYSE:DEO) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,742 shares of the company’s stock after purchasing an additional 1,198 shares during the period. Naviter Wealth LLC’s holdings in Diageo were worth $1,620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Diageo during the 3rd quarter worth $25,000. Eastern Bank increased its holdings in shares of Diageo by 107.8% in the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after acquiring an additional 125 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Diageo during the fourth quarter worth about $35,000. Kestra Investment Management LLC bought a new position in shares of Diageo during the 4th quarter valued at about $36,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Diageo in the 4th quarter valued at approximately $47,000. 8.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DEO. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, TD Cowen boosted their price target on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Stock Performance

Shares of DEO opened at $112.81 on Friday. The stock has a market capitalization of $62.75 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 2.39 and a beta of 0.65. Diageo plc has a 12 month low of $105.72 and a 12 month high of $151.76. The firm has a fifty day simple moving average of $115.90 and a 200 day simple moving average of $124.37. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62.

Diageo Dividend Announcement

The firm also recently disclosed 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 is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo’s dividend payout ratio is 46.42%.

Diageo Profile

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.