Kornitzer Capital Management Inc. KS Has $11.04 Million Position in Diageo plc (NYSE:DEO)

Kornitzer Capital Management Inc. KS cut its stake in Diageo plc (NYSE:DEO - Free Report) by 33.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,862 shares of the company's stock after selling 43,819 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Diageo were worth $11,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in DEO. Brooklyn Investment Group bought a new position in shares of Diageo during the 3rd quarter worth approximately $25,000. Eastern Bank boosted its stake in shares of Diageo by 107.8% during the 4th quarter. Eastern Bank now owns 241 shares of the company's stock worth $31,000 after buying an additional 125 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Diageo in the 4th quarter valued at about $35,000. Concord Wealth Partners acquired a new stake in shares of Diageo in the third quarter valued at about $38,000. Finally, Heck Capital Advisors LLC acquired a new position in Diageo during the fourth quarter valued at approximately $47,000. Institutional investors own 8.97% of the company's stock.

Analysts Set New Price Targets

DEO has been the subject of a number of recent analyst reports. 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 shares of Diageo from a "hold" rating to a "buy" rating in a research note on Thursday, December 5th. Finally, TD Cowen upped their price objective on Diageo from $124.00 to $129.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $129.00.

Diageo Trading Up 2.4 %

Shares of DEO traded up $2.56 during midday trading on Friday, reaching $110.54. 867,769 shares of the stock were exchanged, compared to its average volume of 1,119,252. The stock's 50 day simple moving average is $119.17 and its 200 day simple moving average is $125.46. Diageo plc has a twelve month low of $105.72 and a twelve month high of $154.71. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders 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 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.