FineMark National Bank & Trust Lowers Stock Holdings in Diageo plc (NYSE:DEO)

FineMark National Bank & Trust cut its holdings in shares of Diageo plc (NYSE:DEO) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,261 shares of the company’s stock after selling 4,877 shares during the quarter. FineMark National Bank & Trust’s holdings in Diageo were worth $4,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Canoe Financial LP grew its holdings in 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 purchasing an additional 8,104,301 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Diageo during the 4th quarter worth $123,892,000. FMR LLC raised its position in shares of Diageo by 9.1% in the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after buying an additional 437,646 shares during the period. ABC Arbitrage SA purchased a new position in shares of Diageo in the 4th quarter worth $37,777,000. Finally, JPMorgan Chase & Co. boosted its holdings in Diageo by 25.9% in the third quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock valued at $156,759,000 after acquiring an additional 229,946 shares during the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on DEO shares. TD Cowen upped their price target on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. Jefferies Financial Group raised shares of 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 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $129.00.

Diageo Stock Performance

Shares of NYSE:DEO opened at $105.25 on Wednesday. The company has a market cap of $58.55 billion, a P/E ratio of 15.36, a PEG ratio of 2.39 and a beta of 0.65. Diageo plc has a one year low of $104.98 and a one year high of $149.44. The business’s 50-day simple moving average is $112.26 and its 200 day simple moving average is $122.33. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60.

Diageo Announces Dividend

The company also recently announced 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 of this dividend is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo’s payout ratio is currently 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.