Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,188 shares of the company's stock after purchasing an additional 4,738 shares during the quarter. Diageo makes up about 2.0% of Lorne Steinberg Wealth Management Inc.'s holdings, making the stock its 19th biggest position. Lorne Steinberg Wealth Management Inc.'s holdings in Diageo were worth $6,889,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of DEO. Brooklyn Investment Group bought a new stake in Diageo during the third quarter worth approximately $25,000. Eastern Bank boosted its holdings 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 period. Modus Advisors LLC bought a new stake in shares of Diageo during the 4th quarter worth $35,000. Kestra Investment Management LLC acquired a new position in Diageo in the 4th quarter valued at $36,000. Finally, Concord Wealth Partners bought a new position in Diageo in the 3rd quarter worth $38,000. Institutional investors own 8.97% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have commented on DEO. Jefferies Financial Group raised Diageo from a "hold" rating to a "buy" rating in a report on Thursday, December 5th. UBS Group raised shares of Diageo from a "sell" rating to a "buy" rating in a research note on Wednesday, December 11th. Finally, TD Cowen raised their target price on Diageo from $124.00 to $129.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $129.00.
Read Our Latest Stock Analysis on Diageo
Diageo Stock Performance
DEO stock traded up $2.56 during mid-day trading on Friday, hitting $110.54. 867,769 shares of the company were exchanged, compared to its average volume of 1,119,252. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. Diageo plc has a 1-year low of $105.72 and a 1-year high of $154.71. The firm's 50 day simple moving average is $119.59 and its 200 day simple moving average is $125.53.
Diageo Announces Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, February 28th. This represents a dividend yield of 3.8%.
Diageo Company Profile
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Free Report)
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.
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