CIBC Private Wealth Group LLC Sells 42,858 Shares of Diageo plc (NYSE:DEO)

CIBC Private Wealth Group LLC lowered its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 14.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,283 shares of the company's stock after selling 42,858 shares during the period. CIBC Private Wealth Group LLC's holdings in Diageo were worth $31,395,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DEO. Intrust Bank NA increased its position in Diageo by 41.5% in the 4th quarter. Intrust Bank NA now owns 4,028 shares of the company's stock worth $512,000 after purchasing an additional 1,182 shares during the last quarter. Weik Capital Management grew its stake in shares of Diageo by 0.7% in the 4th quarter. Weik Capital Management now owns 27,690 shares of the company's stock valued at $3,520,000 after buying an additional 180 shares in the last quarter. AssuredPartners Investment Advisors LLC bought a new stake in shares of Diageo in the 4th quarter valued at approximately $255,000. JPMorgan Chase & Co. increased its holdings in Diageo by 9.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company's stock worth $155,167,000 after buying an additional 103,540 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in Diageo by 12.1% in the fourth quarter. Zions Bancorporation N.A. now owns 41,321 shares of the company's stock valued at $5,253,000 after acquiring an additional 4,454 shares during the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DEO shares. UBS Group upgraded shares of Diageo from a "sell" rating to a "buy" rating in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Berenberg Bank assumed coverage on Diageo in a research note on Wednesday. They set a "buy" rating for the company. Finally, TD Cowen increased their price objective on Diageo from $124.00 to $129.00 and gave the company a "hold" rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $129.00.

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Diageo Stock Performance

Diageo stock traded down $3.82 on Friday, reaching $104.19. 3,580,332 shares of the stock were exchanged, compared to its average volume of 911,621. 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 twelve month low of $103.70 and a twelve month high of $144.28. The firm has a fifty day moving average price of $110.12 and a two-hundred day moving average price of $120.97. The stock has a market cap of $57.96 billion, a PE ratio of 15.21, a PEG ratio of 2.39 and a beta of 0.63.

Diageo Announces Dividend

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 given a dividend of $1.62 per share. The ex-dividend date is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo's dividend payout ratio 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.