ABC Arbitrage SA Makes New Investment in Diageo plc (NYSE:DEO)

ABC Arbitrage SA purchased a new stake in Diageo plc (NYSE:DEO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 297,153 shares of the company’s stock, valued at approximately $37,777,000. Diageo comprises 5.4% of ABC Arbitrage SA’s investment portfolio, making the stock its biggest position. ABC Arbitrage SA owned approximately 0.05% of Diageo at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC grew its holdings in shares of Diageo by 1.1% during the third quarter. Global Retirement Partners LLC now owns 8,146 shares of the company’s stock worth $1,143,000 after buying an additional 85 shares in the last quarter. Alliance Wealth Advisors LLC UT grew its stake in Diageo by 2.6% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,383 shares of the company’s stock worth $430,000 after acquiring an additional 86 shares during the period. Savant Capital LLC lifted its stake in shares of Diageo by 5.0% during the 4th quarter. Savant Capital LLC now owns 1,864 shares of the company’s stock worth $237,000 after purchasing an additional 88 shares during the period. Diversified Trust Co boosted its holdings in shares of Diageo by 5.6% during the fourth quarter. Diversified Trust Co now owns 1,855 shares of the company’s stock worth $236,000 after purchasing an additional 98 shares during the last quarter. Finally, Malaga Cove Capital LLC grew its position in shares of Diageo by 3.4% in the third quarter. Malaga Cove Capital LLC now owns 3,001 shares of the company’s stock valued at $421,000 after purchasing an additional 100 shares during the period. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DEO shares. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. TD Cowen increased 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. Finally, Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $129.00.

Diageo Stock Down 1.8 %

Shares of NYSE DEO opened at $107.45 on Friday. Diageo plc has a 1 year low of $105.72 and a 1 year high of $154.71. The company has a quick ratio of 0.55, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The stock’s 50-day simple moving average is $121.39 and its 200-day simple moving average is $126.16.

Diageo Dividend Announcement

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 paid a $1.62 dividend. The ex-dividend date is Friday, February 28th. This represents a dividend yield of 3.8%.

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.