Frank Rimerman Advisors LLC Makes New $240,000 Investment in Diageo plc (NYSE:DEO)

Frank Rimerman Advisors LLC acquired a new position in Diageo plc (NYSE:DEO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,890 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in shares of Diageo during the third quarter valued at $25,000. Eastern Bank boosted its holdings in shares of Diageo by 107.8% during the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares during the period. Modus Advisors LLC acquired a new position in shares of Diageo during the fourth quarter valued at $35,000. Kestra Investment Management LLC acquired a new position in shares of Diageo during the fourth quarter valued at $36,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Diageo during the fourth quarter valued at $47,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Analysts Set New Price Targets

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

Diageo Trading Up 1.4 %

Shares of DEO stock opened at $109.16 on Tuesday. Diageo plc has a 12 month low of $105.72 and a 12 month high of $149.44. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The business’s 50 day moving average is $113.93 and its two-hundred day moving average is $123.28. The company has a market cap of $60.72 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65.

Diageo Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be issued 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 payout ratio is presently 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.