Bank of Nova Scotia Reduces Stake in Diageo plc (NYSE:DEO)

Bank of Nova Scotia trimmed its position in shares of Diageo plc (NYSE:DEO - Free Report) by 25.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,152 shares of the company's stock after selling 4,744 shares during the period. Bank of Nova Scotia's holdings in Diageo were worth $1,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. CoreFirst Bank & Trust purchased a new position in shares of Diageo in the 4th quarter worth $25,000. Eastern Bank grew its position in Diageo by 107.8% in the fourth quarter. Eastern Bank now owns 241 shares of the company's stock worth $31,000 after acquiring an additional 125 shares in the last quarter. Modus Advisors LLC bought a new stake in Diageo during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC purchased a new stake in Diageo during the fourth quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Diageo in the 4th quarter valued at approximately $47,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DEO shares. Deutsche Bank Aktiengesellschaft raised Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. TD Cowen raised their target price on shares of Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a report on Wednesday, January 8th. Finally, Berenberg Bank assumed coverage on shares of Diageo in a research note on Wednesday, April 2nd. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $129.00.

Remove Ads

Diageo Price Performance

NYSE DEO traded down $3.03 during trading hours on Tuesday, reaching $107.57. The company's stock had a trading volume of 774,623 shares, compared to its average volume of 927,495. The firm has a market capitalization of $59.84 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 2.39 and a beta of 0.63. The company's 50-day moving average is $107.87 and its two-hundred day moving average is $119.21. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. Diageo plc has a 1-year low of $100.72 and a 1-year high of $144.27.

Diageo Announces Dividend

The company also recently disclosed 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. This represents a yield of 3.8%. The ex-dividend date is Friday, February 28th. Diageo's dividend payout ratio is currently 46.42%.

Diageo Company 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.