Inlet Private Wealth LLC Buys New Position in Diageo plc $DEO

Inlet Private Wealth LLC bought a new stake in shares of Diageo plc (NYSE:DEO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,901 shares of the company’s stock, valued at approximately $1,285,000.

Other large investors have also bought and sold shares of the company. Equity Investment Corp acquired a new position in shares of Diageo in the 3rd quarter valued at $92,970,000. Federated Hermes Inc. boosted its position in shares of Diageo by 7.2% in the 3rd quarter. Federated Hermes Inc. now owns 726,578 shares of the company’s stock valued at $69,337,000 after purchasing an additional 48,909 shares during the period. Osaic Holdings Inc. boosted its position in shares of Diageo by 42.2% in the 2nd quarter. Osaic Holdings Inc. now owns 99,998 shares of the company’s stock valued at $10,099,000 after purchasing an additional 29,674 shares during the period. Confluence Investment Management LLC boosted its position in shares of Diageo by 0.9% in the 3rd quarter. Confluence Investment Management LLC now owns 1,363,504 shares of the company’s stock valued at $130,119,000 after purchasing an additional 12,678 shares during the period. Finally, CORDA Investment Management LLC. acquired a new position in shares of Diageo in the 3rd quarter valued at $14,329,000. Institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

DEO opened at $74.91 on Tuesday. Diageo plc has a fifty-two week low of $72.45 and a fifty-two week high of $116.69. The business has a 50-day moving average of $85.78 and a 200-day moving average of $89.62. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53.

Diageo Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, April 17th will be paid a $0.80 dividend. This represents a dividend yield of 207.0%. The ex-dividend date of this dividend is Friday, April 17th.

Wall Street Analysts Forecast Growth

DEO has been the subject of a number of recent analyst reports. Royal Bank Of Canada upgraded Diageo from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research report on Wednesday, January 21st. HSBC lowered Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Sanford C. Bernstein set a $124.00 price target on Diageo and gave the company an “outperform” rating in a research report on Monday, December 29th. Finally, Argus upgraded Diageo to a “hold” rating in a research report on Tuesday, March 10th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $116.50.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.