Diageo plc (NYSE:DEO) Stock Holdings Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,220,534 shares of the company's stock after acquiring an additional 103,540 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.22% of Diageo worth $155,167,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DEO. Canoe Financial LP increased its holdings in shares of Diageo by 88,407.3% in the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company's stock valued at $1,031,465,000 after acquiring an additional 8,104,301 shares during the last quarter. Wellington Management Group LLP increased its stake in Diageo by 6.9% during the third quarter. Wellington Management Group LLP now owns 991,459 shares of the company's stock valued at $139,141,000 after purchasing an additional 64,367 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Diageo during the fourth quarter worth $123,892,000. Cambiar Investors LLC lifted its position in shares of Diageo by 6.8% in the 4th quarter. Cambiar Investors LLC now owns 497,022 shares of the company's stock worth $63,186,000 after buying an additional 31,613 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Diageo by 1.8% in the 4th quarter. LPL Financial LLC now owns 425,429 shares of the company's stock valued at $54,085,000 after buying an additional 7,402 shares during the period. 8.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. UBS Group upgraded shares of Diageo from a "sell" rating to a "buy" rating in a research note on Wednesday, December 11th. Jefferies Financial Group upgraded Diageo from a "hold" rating to a "buy" rating in a research report on Thursday, December 5th. TD Cowen boosted their price objective on Diageo from $124.00 to $129.00 and gave the company a "hold" rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Berenberg Bank initiated coverage on shares of Diageo in a research report on Wednesday. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $129.00.

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Diageo Stock Performance

Shares of DEO traded up $1.56 during trading hours on Thursday, reaching $108.04. 2,560,738 shares of the company's stock traded hands, compared to its average volume of 898,151. Diageo plc has a twelve month low of $103.70 and a twelve month high of $148.38. The business's fifty day simple moving average is $110.75 and its two-hundred day simple moving average is $121.35. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The firm has a market capitalization of $60.10 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 2.39 and a beta of 0.65.

Diageo Announces Dividend

The business also recently announced 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 payout ratio is 46.42%.

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.