Advisor Group Inc. boosted its position in Diageo plc (NYSE:DEO) by 18.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 22,512 shares of the company’s stock after purchasing an additional 3,497 shares during the period. Advisor Group Inc.’s holdings in Diageo were worth $3,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Segment Wealth Management LLC increased its position in Diageo by 9.0% in the fourth quarter. Segment Wealth Management LLC now owns 17,583 shares of the company’s stock worth $2,567,000 after buying an additional 1,455 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Diageo in the fourth quarter worth $3,814,000. Heritage Wealth Advisors increased its position in Diageo by 92.7% in the fourth quarter. Heritage Wealth Advisors now owns 3,190 shares of the company’s stock worth $467,000 after buying an additional 1,535 shares during the last quarter. M&T Bank Corp increased its position in Diageo by 6.0% in the fourth quarter. M&T Bank Corp now owns 30,775 shares of the company’s stock worth $4,494,000 after buying an additional 1,732 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in Diageo by 0.3% in the fourth quarter. Baird Financial Group Inc. now owns 353,773 shares of the company’s stock worth $51,662,000 after buying an additional 1,141 shares during the last quarter. 11.87% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Diageo from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Natixis cut Diageo from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 7th. Macquarie upgraded Diageo from an “underperform” rating to a “neutral” rating in a research report on Wednesday, February 7th. BNP Paribas cut Diageo from an “outperform” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada cut Diageo from an “outperform” rating to a “sector perform” rating in a research report on Monday, January 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $153.00.
The business also recently declared a semiannual dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Friday, February 23rd will be given a $1.4232 dividend. This represents a dividend yield of 1.96%. The ex-dividend date is Thursday, February 22nd. Diageo’s dividend payout ratio (DPR) is presently 54.62%.
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Diageo Company Profile
Diageo PLC is an alcoholic beverage company. The Company operates in various categories, including spirits and beer. Its geographic segments include North America; Europe, Russia and Turkey; Africa; Latin America and Caribbean, and Asia Pacific. Its principal products includes Scotch whisky, Gin, Vodka, Rum, Beer, Irish Cream Liqueur, Wine, Raki, Tequila, Canadian Whisky, American Whiskey, Progressive Adult Beverages, Cachaca, Brandy and Ready to Drink.
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