Envestnet Portfolio Solutions Inc. Buys 10,449 Shares of Diageo plc (NYSE:DEO)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Diageo plc (NYSE:DEO) by 29.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 45,807 shares of the company’s stock after acquiring an additional 10,449 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Diageo were worth $5,823,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DEO. Brooklyn Investment Group bought a new stake in Diageo in the third quarter worth $25,000. Eastern Bank lifted its stake in Diageo by 107.8% in the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after purchasing an additional 125 shares during the last quarter. Modus Advisors LLC bought a new stake in Diageo in the fourth quarter worth $35,000. Kestra Investment Management LLC bought a new stake in Diageo in the fourth quarter worth $36,000. Finally, Heck Capital Advisors LLC bought a new stake in Diageo in the fourth quarter worth $47,000. 8.97% of the stock is owned by institutional investors.

Diageo Price Performance

Shares of NYSE DEO opened at $108.28 on Wednesday. Diageo plc has a 1 year low of $105.72 and a 1 year high of $149.44. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The company’s 50-day moving average is $113.60 and its 200 day moving average is $123.12. The stock has a market capitalization of $60.24 billion, a P/E ratio of 15.81, 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 given 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 currently 46.42%.

Analyst Ratings Changes

Several analysts have weighed in on DEO shares. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Finally, TD Cowen upped their price objective on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. One equities 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.