Sagespring Wealth Partners LLC Acquires Shares of 2,913 Diageo plc (NYSE:DEO)

Sagespring Wealth Partners LLC acquired a new stake in Diageo plc (NYSE:DEO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,913 shares of the company's stock, valued at approximately $370,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DEO. Morse Asset Management Inc acquired a new stake in shares of Diageo in the third quarter worth $95,000. Anchor Investment Management LLC raised its holdings in Diageo by 71.7% in the 3rd quarter. Anchor Investment Management LLC now owns 1,533 shares of the company's stock worth $215,000 after acquiring an additional 640 shares during the period. World Investment Advisors LLC acquired a new position in Diageo during the 3rd quarter worth $5,510,000. Wilmington Savings Fund Society FSB boosted its holdings in Diageo by 550.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 10,532 shares of the company's stock valued at $1,478,000 after acquiring an additional 8,912 shares during the period. Finally, Optimist Retirement Group LLC grew its position in shares of Diageo by 23.7% in the third quarter. Optimist Retirement Group LLC now owns 16,681 shares of the company's stock valued at $2,341,000 after purchasing an additional 3,193 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Stock Performance

DEO traded up $1.19 on Friday, hitting $109.39. 1,291,703 shares of the stock traded hands, compared to its average volume of 926,769. The business has a fifty day moving average price of $107.87 and a two-hundred day moving average price of $118.57. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. Diageo plc has a 52 week low of $100.72 and a 52 week high of $144.27. The firm has a market capitalization of $60.85 billion, a PE ratio of 15.97, a P/E/G ratio of 2.39 and a beta of 0.63.

Diageo Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be paid a $1.62 dividend. The ex-dividend date is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo's payout ratio is 46.42%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DEO. Berenberg Bank initiated coverage on Diageo in a research report on Wednesday, April 2nd. They set a "buy" rating for the company. TD Cowen upped their price target on Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a report on Wednesday, January 8th. 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $129.00.

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.