Lorne Steinberg Wealth Management Inc. Purchases 4,738 Shares of Diageo plc (NYSE:DEO)

Lorne Steinberg Wealth Management Inc. boosted its position in Diageo plc (NYSE:DEO) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,188 shares of the company’s stock after purchasing an additional 4,738 shares during the quarter. Diageo makes up 2.0% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 19th biggest position. Lorne Steinberg Wealth Management Inc.’s holdings in Diageo were worth $6,889,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DEO. Creative Planning raised its holdings in Diageo by 11.6% in the third quarter. Creative Planning now owns 47,970 shares of the company’s stock worth $6,732,000 after purchasing an additional 4,980 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in Diageo by 10.2% in the third quarter. Vontobel Holding Ltd. now owns 2,375 shares of the company’s stock worth $333,000 after purchasing an additional 220 shares in the last quarter. Blue Trust Inc. raised its holdings in Diageo by 48.8% in the third quarter. Blue Trust Inc. now owns 4,857 shares of the company’s stock worth $682,000 after purchasing an additional 1,593 shares in the last quarter. Resonant Capital Advisors LLC bought a new position in Diageo in the third quarter worth $217,000. Finally, OLD National Bancorp IN increased its holdings in shares of Diageo by 4.1% during the third quarter. OLD National Bancorp IN now owns 4,428 shares of the company’s stock valued at $621,000 after acquiring an additional 174 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

DEO has been the subject of several analyst reports. TD Cowen raised their price target on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Finally, UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $129.00.

Diageo Stock Up 0.3 %

NYSE DEO opened at $107.82 on Wednesday. Diageo plc has a one year low of $105.72 and a one year high of $154.71. The stock has a 50-day moving average of $120.42 and a 200 day moving average of $125.79. The company has a current ratio of 1.60, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62.

Diageo Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be issued a $1.62 dividend. The ex-dividend date is Friday, February 28th. This represents a yield of 3.8%.

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.