Taikang Asset Management Hong Kong Co Ltd Takes $2.92 Million Position in Diageo plc (NYSE:DEO)

Taikang Asset Management Hong Kong Co Ltd acquired a new position in Diageo plc (NYSE:DEO) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 23,000 shares of the company’s stock, valued at approximately $2,924,000.

Other hedge funds also recently bought and sold shares of the company. Citigroup Inc. grew its stake in shares of Diageo by 4.4% during the 3rd quarter. Citigroup Inc. now owns 158,428 shares of the company’s stock valued at $22,234,000 after purchasing an additional 6,617 shares during the period. Canoe Financial LP grew its position in Diageo by 88,407.3% during the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after buying an additional 8,104,301 shares during the period. BNP Paribas Financial Markets increased its holdings in Diageo by 32.8% during the third quarter. BNP Paribas Financial Markets now owns 65,894 shares of the company’s stock valued at $9,248,000 after buying an additional 16,285 shares during the last quarter. FMR LLC raised its position in Diageo by 9.1% in the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after acquiring an additional 437,646 shares during the period. Finally, Maia Wealth LLC boosted its stake in shares of Diageo by 24.7% during the 4th quarter. Maia Wealth LLC now owns 13,112 shares of the company’s stock worth $1,648,000 after acquiring an additional 2,593 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on DEO. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. TD Cowen raised their price objective on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Diageo has an average rating of “Hold” and an average price target of $129.00.

Diageo Price Performance

Shares of Diageo stock opened at $106.32 on Tuesday. The company has a market capitalization of $59.15 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.39 and a beta of 0.65. 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 stock’s 50-day simple moving average is $112.45 and its 200-day simple moving average is $122.48. Diageo plc has a 52 week low of $105.23 and a 52 week high of $149.44.

Diageo Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a yield of 3.8%. Diageo’s dividend payout ratio is presently 46.42%.

About Diageo

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.