Wealthfront Advisers LLC Makes New $276,000 Investment in Diageo plc (NYSE:DEO)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in Diageo by 4.4% during the 3rd quarter. Citigroup Inc. now owns 158,428 shares of the company’s stock worth $22,234,000 after acquiring an additional 6,617 shares during the period. Canoe Financial LP lifted its position in Diageo by 88,407.3% during the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after acquiring an additional 8,104,301 shares during the period. BNP Paribas Financial Markets lifted its position in Diageo by 32.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 65,894 shares of the company’s stock worth $9,248,000 after acquiring an additional 16,285 shares during the period. FMR LLC raised its stake in shares of Diageo by 9.1% during the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after buying an additional 437,646 shares during the last quarter. Finally, Maia Wealth LLC raised its stake in shares of Diageo by 24.7% during the 4th quarter. Maia Wealth LLC now owns 13,112 shares of the company’s stock valued at $1,648,000 after buying an additional 2,593 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Price Performance

Shares of Diageo stock opened at $109.16 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. Diageo plc has a twelve month low of $105.72 and a twelve month high of $149.44. The business has a 50-day moving average price of $113.93 and a 200 day moving average price of $123.28. The firm has a market cap of $60.72 billion, a PE ratio of 15.94, a P/E/G ratio of 2.39 and a beta of 0.65.

Diageo Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Finally, TD Cowen lifted their price objective on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.