Pitcairn Co. Decreases Stock Position in Diageo plc (NYSE:DEO)

Pitcairn Co. lowered its position in shares of Diageo plc (NYSE:DEO) by 13.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,290 shares of the company’s stock after selling 343 shares during the period. Pitcairn Co.’s holdings in Diageo were worth $291,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Diageo by 84.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 33,754 shares of the company’s stock worth $4,737,000 after buying an additional 15,487 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Diageo in the third quarter worth about $95,000. Point72 Asset Management L.P. lifted its stake in shares of Diageo by 134.1% in the third quarter. Point72 Asset Management L.P. now owns 16,228 shares of the company’s stock worth $2,277,000 after acquiring an additional 9,295 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Diageo by 420.5% in the third quarter. Quantinno Capital Management LP now owns 39,189 shares of the company’s stock valued at $5,500,000 after purchasing an additional 31,660 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in Diageo by 37.7% during the 3rd quarter. Stifel Financial Corp now owns 307,891 shares of the company’s stock valued at $43,209,000 after purchasing an additional 84,280 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Down 3.5 %

Shares of NYSE:DEO opened at $104.19 on Monday. The company’s fifty day moving average is $110.12 and its two-hundred day moving average is $120.89. 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 plc has a 1-year low of $98.84 and a 1-year high of $144.28. The stock has a market capitalization of $57.96 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63.

Diageo Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Investors 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 yield of 3.8%. Diageo’s dividend payout ratio (DPR) is 46.42%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DEO. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Berenberg Bank initiated coverage on shares of Diageo in a research report on Wednesday, April 2nd. They issued a “buy” rating for the company. Finally, TD Cowen increased their price target 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Diageo has an average rating of “Hold” and a consensus target price of $129.00.

About Diageo

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.