Assetmark Inc. Boosts Position in Diageo plc (NYSE:DEO)

Assetmark Inc. increased its stake in Diageo plc (NYSE:DEO) by 393.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,281 shares of the company’s stock after buying an additional 56,046 shares during the quarter. Assetmark Inc.’s holdings in Diageo were worth $8,935,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in DEO. Clark Estates Inc. NY acquired a new position in shares of Diageo in the 4th quarter valued at approximately $10,870,000. Charles Schwab Investment Management Inc. grew its position in shares of Diageo by 11.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 37,718 shares of the company’s stock worth $4,795,000 after acquiring an additional 3,964 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Diageo by 8.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 30,059 shares of the company’s stock worth $3,821,000 after purchasing an additional 2,272 shares during the last quarter. Grandfield & Dodd LLC increased its position in Diageo by 3.3% in the 4th quarter. Grandfield & Dodd LLC now owns 247,930 shares of the company’s stock valued at $31,519,000 after acquiring an additional 7,917 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Diageo during the fourth quarter valued at $485,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

DEO has been the topic of several recent analyst reports. TD Cowen boosted their target price on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. One equities 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $129.00.

Diageo Price Performance

Shares of NYSE:DEO opened at $112.81 on Friday. 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 $62.75 billion, a P/E ratio of 16.47, a P/E/G ratio of 2.39 and a beta of 0.65. The business has a 50-day moving average of $115.90 and a two-hundred day moving average of $124.40. Diageo plc has a fifty-two week low of $105.72 and a fifty-two week high of $151.76.

Diageo Announces Dividend

The business also recently declared 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 yield of 3.8%. Diageo’s dividend payout ratio (DPR) is presently 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.