CIBC Private Wealth Group LLC Cuts Stock Holdings in Diageo plc (NYSE:DEO)

CIBC Private Wealth Group LLC lessened its holdings in Diageo plc (NYSE:DEO) by 14.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,283 shares of the company’s stock after selling 42,858 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Diageo were worth $31,395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Canoe Financial LP boosted its stake in shares of Diageo by 88,407.3% in 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in Diageo by 9.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company’s stock valued at $155,167,000 after acquiring an additional 103,540 shares during the period. Wellington Management Group LLP boosted its position in shares of Diageo by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 991,459 shares of the company’s stock worth $139,141,000 after purchasing an additional 64,367 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Diageo during the 4th quarter worth $123,892,000. Finally, Cambiar Investors LLC increased its holdings in shares of Diageo by 6.8% in the 4th quarter. Cambiar Investors LLC now owns 497,022 shares of the company’s stock valued at $63,186,000 after purchasing an additional 31,613 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DEO shares. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. 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. UBS Group raised Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $129.00.

Diageo Stock Down 0.5 %

DEO stock opened at $104.81 on Tuesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The company’s 50 day simple moving average is $111.27 and its 200-day simple moving average is $121.65. Diageo plc has a 12 month low of $103.70 and a 12 month high of $149.24. The firm has a market capitalization of $58.30 billion, a PE ratio of 15.30, a P/E/G ratio of 2.39 and a beta of 0.65.

Diageo Announces Dividend

The business also recently announced 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. This represents a yield of 3.8%. The ex-dividend date is Friday, February 28th. Diageo’s dividend payout ratio (DPR) 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.