Envestnet Portfolio Solutions Inc. Increases Position in Diageo plc (NYSE:DEO)

Envestnet Portfolio Solutions Inc. boosted its holdings in Diageo plc (NYSE:DEO) by 29.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 45,807 shares of the company’s stock after acquiring an additional 10,449 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Diageo were worth $5,823,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DEO. Canoe Financial LP grew its holdings in Diageo by 88,407.3% in the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after purchasing an additional 8,104,301 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Diageo during the fourth quarter valued at approximately $123,892,000. FMR LLC grew its holdings in shares of Diageo by 9.1% during 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 during the last quarter. ABC Arbitrage SA purchased a new stake in shares of Diageo during the fourth quarter valued at approximately $37,777,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Diageo by 25.9% during 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 during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analyst Ratings Changes

DEO has been the topic of a number of recent analyst reports. 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 report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $129.00.

Diageo Stock Down 0.9 %

Shares of Diageo stock opened at $108.28 on Wednesday. The company has a market cap of $60.24 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. The company’s 50 day moving average is $113.60 and its 200 day moving average is $123.12. Diageo plc has a twelve month low of $105.72 and a twelve 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.

Diageo Announces Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Investors 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 yield of 3.8%. Diageo’s dividend payout ratio (DPR) 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.