GAMMA Investing LLC Makes New Investment in Diageo plc (NYSE:DEO)

GAMMA Investing LLC acquired a new stake in Diageo plc (NYSE:DEO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,974 shares of the company’s stock, valued at approximately $285,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fox Run Management L.L.C. purchased a new stake in shares of Diageo during the third quarter worth about $263,000. Cerity Partners LLC raised its holdings in shares of Diageo by 6.1% during the fourth quarter. Cerity Partners LLC now owns 41,808 shares of the company’s stock valued at $6,090,000 after acquiring an additional 2,400 shares during the last quarter. Retirement Planning Co of New England Inc. lifted its position in shares of Diageo by 51.0% in the third quarter. Retirement Planning Co of New England Inc. now owns 8,723 shares of the company’s stock valued at $1,301,000 after acquiring an additional 2,946 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Diageo by 8.2% in the third quarter. Wellington Management Group LLP now owns 432,223 shares of the company’s stock valued at $64,479,000 after acquiring an additional 32,928 shares in the last quarter. Finally, Rockline Wealth Management LLC acquired a new stake in shares of Diageo in the fourth quarter worth approximately $1,142,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Performance

Diageo stock opened at $140.37 on Thursday. The firm has a 50 day simple moving average of $146.64 and a 200-day simple moving average of $146.27. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 0.65. Diageo plc has a 1-year low of $135.63 and a 1-year high of $190.02.

Diageo Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, March 1st were given a $1.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a yield of 2.7%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DEO shares. BNP Paribas lowered shares of Diageo from a “neutral” rating to an “underperform” rating in a research report on Friday, January 12th. Argus lowered Diageo from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, Diageo has an average rating of “Hold” and a consensus target price of $3,797.50.

Diageo Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.