Summit Financial LLC Reduces Stake in Diageo plc (NYSE:DEO)

Summit Financial LLC trimmed its position in shares of Diageo plc (NYSE:DEO) by 26.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,152 shares of the company’s stock after selling 1,845 shares during the quarter. Summit Financial LLC’s holdings in Diageo were worth $655,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CoreFirst Bank & Trust purchased a new stake in shares of Diageo in the 4th quarter worth about $25,000. Eastern Bank grew its position in shares of Diageo by 107.8% in the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after purchasing an additional 125 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of Diageo during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new position in shares of Diageo during the 4th quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in Diageo in the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

DEO has been the subject of several recent research reports. Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. TD Cowen raised their price target on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Berenberg Bank began coverage on shares of Diageo in a research report on Wednesday. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $129.00.

Diageo Price Performance

DEO opened at $106.64 on Thursday. Diageo plc has a 1 year low of $103.70 and a 1 year high of $148.38. The company’s 50 day simple moving average is $110.75 and its 200 day simple moving average is $121.35. The stock has a market capitalization of $59.32 billion, a PE ratio of 15.57, a P/E/G ratio of 2.39 and a beta of 0.65. 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 Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be issued 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 dividend payout ratio (DPR) is presently 46.42%.

Diageo 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.