Wealthfront Advisers LLC Invests $276,000 in Diageo plc (NYSE:DEO)

Wealthfront Advisers LLC purchased a new position in Diageo plc (NYSE:DEO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,171 shares of the company’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Canoe Financial LP raised its holdings in shares of Diageo by 88,407.3% in the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after buying an additional 8,104,301 shares during the period. FMR LLC increased its holdings in Diageo by 9.1% during 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. Massachusetts Financial Services Co. MA increased its holdings in Diageo by 13.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock worth $176,042,000 after purchasing an additional 147,920 shares during the period. JPMorgan Chase & Co. increased its holdings in Diageo by 25.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock worth $156,759,000 after purchasing an additional 229,946 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Diageo by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 991,459 shares of the company’s stock worth $139,141,000 after purchasing an additional 64,367 shares during the period. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Up 1.4 %

Shares of NYSE DEO opened at $109.16 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $60.72 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. The stock’s fifty day simple moving average is $113.93 and its two-hundred day simple moving average is $123.28. Diageo plc has a 12-month low of $105.72 and a 12-month high of $149.44.

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

Analysts Set New Price Targets

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

Diageo Company 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.