NTV Asset Management LLC Lowers Stake in Diageo plc (NYSE:DEO)

NTV Asset Management LLC reduced its stake in shares of Diageo plc (NYSE:DEO) by 15.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,867 shares of the company’s stock after selling 341 shares during the period. NTV Asset Management LLC’s holdings in Diageo were worth $237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Canoe Financial LP increased its position in shares of Diageo by 88,407.3% during the 4th 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 during the last quarter. FMR LLC grew its position in Diageo by 9.1% during the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after acquiring an additional 437,646 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Diageo by 13.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock worth $176,042,000 after acquiring an additional 147,920 shares during the last quarter. Confluence Investment Management LLC boosted its stake in shares of Diageo by 30.5% in the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after purchasing an additional 284,046 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Diageo by 25.9% during the 3rd 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 last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Performance

Shares of NYSE:DEO opened at $107.45 on Tuesday. The stock’s 50-day moving average is $121.08 and its 200 day moving average is $126.00. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 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.

Diageo Announces Dividend

The firm also recently announced 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 of this dividend is Friday, February 28th. This represents a dividend yield of 3.8%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Cowen boosted their price target on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. UBS Group raised Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Company 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.