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

Frank Rimerman Advisors LLC acquired a new stake in shares of Diageo plc (NYSE:DEO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,890 shares of the company’s stock, valued at approximately $240,000.

Several other institutional investors have also modified their holdings of DEO. Canoe Financial LP lifted its stake in Diageo by 88,407.3% in the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after acquiring an additional 8,104,301 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Diageo during the 4th quarter worth approximately $123,892,000. FMR LLC increased its holdings in shares of Diageo by 9.1% during the 3rd 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 last quarter. ABC Arbitrage SA acquired a new position in Diageo in the 4th quarter valued at $37,777,000. Finally, JPMorgan Chase & Co. grew its holdings in Diageo by 25.9% in the 3rd 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 in the last quarter. Institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. TD Cowen increased their target price on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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 has a 50-day moving average price of $113.93 and a two-hundred day moving average price of $123.28. The firm has a market cap of $60.72 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65.

Diageo Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend 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.