Taikang Asset Management Hong Kong Co Ltd Makes New $2.92 Million Investment in Diageo plc (NYSE:DEO)

Taikang Asset Management Hong Kong Co Ltd bought a new stake in Diageo plc (NYSE:DEO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,000 shares of the company’s stock, valued at approximately $2,924,000.

Several other hedge funds also recently made changes to their positions in DEO. Brooklyn Investment Group purchased a new position in Diageo during the third quarter valued at $25,000. CoreFirst Bank & Trust bought a new position in shares of Diageo in the 4th quarter worth about $25,000. Eastern Bank lifted its position in Diageo by 107.8% during the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares during the period. Modus Advisors LLC bought a new stake in Diageo during the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC purchased a new stake in Diageo in the fourth quarter worth about $36,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Down 0.7 %

Diageo stock opened at $106.32 on Tuesday. The firm has a market cap of $59.15 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.39 and a beta of 0.65. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. Diageo plc has a 12 month low of $105.23 and a 12 month high of $149.44. The stock has a fifty day simple moving average of $112.45 and a two-hundred day simple moving average of $122.48.

Diageo Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be given a $1.62 dividend. This represents a yield of 3.8%. The ex-dividend date of this dividend is Friday, February 28th. Diageo’s dividend payout ratio (DPR) is 46.42%.

Analysts Set New Price Targets

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