CIBC Private Wealth Group LLC Reduces Stake in Diageo plc (NYSE:DEO)

CIBC Private Wealth Group LLC decreased its holdings in shares of Diageo plc (NYSE:DEO) by 14.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 250,283 shares of the company’s stock after selling 42,858 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Diageo were worth $31,395,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Canoe Financial LP raised its holdings in Diageo by 88,407.3% during the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after purchasing an additional 8,104,301 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Diageo during the 4th quarter worth $123,892,000. ABC Arbitrage SA acquired a new stake in Diageo during the 4th quarter worth $37,777,000. JPMorgan Chase & Co. lifted its position in Diageo by 25.9% in the third quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock valued at $156,759,000 after acquiring an additional 229,946 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in Diageo by 3,073.4% in the fourth quarter. Proficio Capital Partners LLC now owns 209,510 shares of the company’s stock valued at $26,635,000 after acquiring an additional 202,908 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Stock Down 0.5 %

DEO opened at $104.81 on Tuesday. Diageo plc has a 52 week low of $103.70 and a 52 week high of $149.24. The business has a 50 day moving average price of $111.27 and a two-hundred day moving average price of $121.65. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The company has a market cap of $58.30 billion, a PE ratio of 15.30, a P/E/G ratio of 2.39 and a beta of 0.65.

Diageo Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be issued a dividend of $1.62 per share. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, February 28th. Diageo’s dividend payout ratio is presently 46.42%.

Wall Street Analysts Forecast Growth

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