JPMorgan Chase & Co. Boosts Stock Position in Diageo plc (NYSE:DEO)

JPMorgan Chase & Co. increased its stake in Diageo plc (NYSE:DEO) by 9.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,220,534 shares of the company’s stock after purchasing an additional 103,540 shares during the quarter. JPMorgan Chase & Co. owned about 0.22% of Diageo worth $155,167,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DEO. Canoe Financial LP grew 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in Diageo by 11.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 37,718 shares of the company’s stock worth $4,795,000 after buying an additional 3,964 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Diageo by 32.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 65,894 shares of the company’s stock valued at $9,248,000 after acquiring an additional 16,285 shares in the last quarter. Maia Wealth LLC boosted its position in shares of Diageo by 24.7% during the 4th quarter. Maia Wealth LLC now owns 13,112 shares of the company’s stock valued at $1,648,000 after acquiring an additional 2,593 shares during the last quarter. Finally, Aviso Financial Inc. grew its holdings in shares of Diageo by 3.4% during the fourth quarter. Aviso Financial Inc. now owns 242,637 shares of the company’s stock worth $30,846,000 after purchasing an additional 7,954 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Finally, TD Cowen upped their price objective on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $129.00.

Diageo Price Performance

NYSE DEO opened at $104.58 on Wednesday. The company has a 50-day moving average price of $110.97 and a 200-day moving average price of $121.45. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $58.18 billion, a P/E ratio of 15.27, a PEG ratio of 2.39 and a beta of 0.65. Diageo plc has a 52 week low of $103.70 and a 52 week high of $149.24.

Diageo Announces Dividend

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 given a dividend of $1.62 per share. This represents a dividend yield of 3.8%. The ex-dividend date is Friday, February 28th. Diageo’s payout ratio is 46.42%.

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.