Diageo plc (NYSE:DEO) Shares Sold by Summit Financial LLC

Summit Financial LLC lessened its holdings in shares of Diageo plc (NYSE:DEO) by 26.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,152 shares of the company’s stock after selling 1,845 shares during the quarter. Summit Financial LLC’s holdings in Diageo were worth $655,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Canoe Financial LP increased its position 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 worth $1,031,465,000 after acquiring an additional 8,104,301 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Diageo by 11.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 37,718 shares of the company’s stock valued at $4,795,000 after purchasing an additional 3,964 shares in the last quarter. Maia Wealth LLC raised its position in Diageo by 24.7% in the fourth quarter. Maia Wealth LLC now owns 13,112 shares of the company’s stock valued at $1,648,000 after purchasing an additional 2,593 shares during the period. Aviso Financial Inc. lifted its stake in shares of Diageo by 3.4% during the fourth quarter. Aviso Financial Inc. now owns 242,637 shares of the company’s stock worth $30,846,000 after purchasing an additional 7,954 shares in the last quarter. Finally, Tevis Investment Management boosted its position in shares of Diageo by 159.7% in the fourth quarter. Tevis Investment Management now owns 13,869 shares of the company’s stock worth $1,763,000 after buying an additional 8,528 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

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

Diageo Trading Up 2.0 %

DEO opened at $106.64 on Thursday. Diageo plc has a 12-month low of $103.70 and a 12-month high of $148.38. 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 stock has a market capitalization of $59.32 billion, a PE ratio of 15.57, a P/E/G ratio of 2.39 and a beta of 0.65. The firm’s fifty day moving average price is $110.75 and its 200 day moving average price is $121.35.

Diageo Dividend Announcement

The business also recently declared 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 is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo’s payout ratio is 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.