Kestra Investment Management LLC Takes Position in Diageo plc (NYSE:DEO)

Kestra Investment Management LLC acquired a new position in Diageo plc (NYSE:DEO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 284 shares of the company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. raised its position in Diageo by 4.4% in the 3rd quarter. Citigroup Inc. now owns 158,428 shares of the company’s stock worth $22,234,000 after purchasing an additional 6,617 shares during the period. Canoe Financial LP raised its position in Diageo by 88,407.3% in the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after purchasing an additional 8,104,301 shares during the period. BNP Paribas Financial Markets raised its position in Diageo by 32.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 65,894 shares of the company’s stock worth $9,248,000 after purchasing an additional 16,285 shares during the period. FMR LLC raised its position in Diageo by 9.1% in the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after purchasing an additional 437,646 shares during the period. Finally, Tevis Investment Management raised its position in Diageo by 159.7% in the 4th quarter. Tevis Investment Management now owns 13,869 shares of the company’s stock worth $1,763,000 after purchasing an additional 8,528 shares during the period. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Performance

Shares of NYSE:DEO opened at $110.54 on Friday. The firm has a market cap of $61.49 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 2.39 and a beta of 0.66. The firm’s 50 day simple moving average is $119.17 and its 200-day simple moving average is $125.49. Diageo plc has a one year low of $105.72 and a one year high of $154.71. 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 Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders 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 dividend yield of 3.8%. Diageo’s dividend payout ratio is presently 73.28%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Finally, TD Cowen raised their target price on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $129.00.

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.