Envestnet Portfolio Solutions Inc. Raises Stock Holdings in Diageo plc (NYSE:DEO)

Envestnet Portfolio Solutions Inc. grew its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 29.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,807 shares of the company's stock after buying an additional 10,449 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Diageo were worth $5,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Canoe Financial LP grew its position in shares of 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 in the last quarter. Raymond James Financial Inc. bought a new position in Diageo during the fourth quarter valued at approximately $123,892,000. FMR LLC raised its position in 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 purchasing an additional 437,646 shares during the period. ABC Arbitrage SA bought a new stake in shares of Diageo in the 4th quarter valued at about $37,777,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Diageo by 25.9% during the third quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company's stock valued at $156,759,000 after purchasing an additional 229,946 shares during the period. 8.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DEO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Diageo from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Jefferies Financial Group upgraded Diageo from a "hold" rating to a "buy" rating in a report on Thursday, December 5th. UBS Group raised Diageo from a "sell" rating to a "buy" rating in a research report on Wednesday, December 11th. Finally, TD Cowen upped their target price on shares of Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $129.00.

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Diageo Stock Down 0.8 %

Shares of NYSE:DEO traded down $0.91 on Friday, hitting $107.09. 781,489 shares of the company traded hands, compared to its average volume of 855,913. The stock has a 50 day simple moving average of $112.65 and a 200-day simple moving average of $122.73. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The company has a market cap of $59.57 billion, a PE ratio of 15.63, a PEG ratio of 2.39 and a beta of 0.65. Diageo plc has a 52 week low of $105.23 and a 52 week high of $149.44.

Diageo Announces Dividend

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