Fisher Asset Management LLC Cuts Stock Position in Diageo plc (NYSE:DEO)

Fisher Asset Management LLC lessened its position in Diageo plc (NYSE:DEO) by 0.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 223,767 shares of the company’s stock after selling 822 shares during the quarter. Fisher Asset Management LLC’s holdings in Diageo were worth $28,448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DEO. Allspring Global Investments Holdings LLC raised its holdings in shares of Diageo by 38.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the company’s stock valued at $326,000 after buying an additional 643 shares during the period. Financial Advocates Investment Management raised its holdings in shares of Diageo by 61.5% in the 3rd quarter. Financial Advocates Investment Management now owns 3,033 shares of the company’s stock valued at $426,000 after buying an additional 1,155 shares during the period. Stephens Inc. AR raised its holdings in shares of Diageo by 14.3% in the 3rd quarter. Stephens Inc. AR now owns 32,720 shares of the company’s stock valued at $4,592,000 after buying an additional 4,089 shares during the period. Creative Financial Designs Inc. ADV raised its holdings in shares of Diageo by 7.7% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,695 shares of the company’s stock valued at $238,000 after buying an additional 121 shares during the period. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of Diageo by 6.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,948 shares of the company’s stock valued at $261,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, TD Cowen upped their price target on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $129.00.

Diageo Price Performance

Shares of NYSE DEO opened at $108.83 on Monday. The stock’s 50-day moving average is $117.39 and its two-hundred day moving average is $124.95. The company has a market cap of $60.54 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 2.39 and a beta of 0.66. Diageo plc has a 1-year low of $105.72 and a 1-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.

Diageo Announces Dividend

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 given 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 is currently 46.42%.

Diageo Company 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.