Scotia Capital Inc. Reduces Stock Holdings in Diageo plc (NYSE:DEO)

Scotia Capital Inc. reduced its stake in Diageo plc (NYSE:DEO - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 300,622 shares of the company's stock after selling 53,922 shares during the quarter. Scotia Capital Inc. owned approximately 0.05% of Diageo worth $38,219,000 at the end of the most recent quarter.

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

Diageo Price Performance

DEO stock traded down $2.75 during mid-day trading on Tuesday, hitting $107.85. The company had a trading volume of 497,802 shares, compared to its average volume of 928,718. The company has a 50-day moving average price of $107.95 and a 200 day moving average price of $119.29. Diageo plc has a 12-month low of $100.72 and a 12-month high of $144.27. The company has a market capitalization of $60.00 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 2.39 and a beta of 0.63. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Remove Ads

Diageo Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be paid a dividend of $1.62 per share. This represents a yield of 3.8%. The ex-dividend date of this dividend is Friday, February 28th. Diageo's payout ratio is presently 46.42%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DEO. TD Cowen lifted their target price on shares of Diageo from $124.00 to $129.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Berenberg Bank initiated coverage on Diageo in a research report on Wednesday, April 2nd. They set a "buy" rating for the company. 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 stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $129.00.

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.