Tower Bridge Advisors Has $5.45 Million Stock Position in Diageo plc (NYSE:DEO)

Tower Bridge Advisors reduced its holdings in Diageo plc (NYSE:DEO) by 9.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 42,877 shares of the company’s stock after selling 4,651 shares during the quarter. Tower Bridge Advisors’ holdings in Diageo were worth $5,451,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Diageo in the 3rd quarter valued at approximately $25,000. Eastern Bank increased its position in Diageo by 107.8% in the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares during the period. Modus Advisors LLC acquired a new position in Diageo in the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC acquired a new position in Diageo in the 4th quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC acquired a new position in Diageo in the 4th quarter valued at approximately $47,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on DEO. TD Cowen increased their price objective on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Finally, UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $129.00.

Diageo Stock Up 0.2 %

Shares of NYSE DEO opened at $108.83 on Friday. The firm has a market cap of $60.54 billion, a PE ratio of 15.89, a P/E/G ratio of 2.39 and a beta of 0.66. Diageo plc has a 12-month low of $105.72 and a 12-month high of $151.76. The company’s fifty day simple moving average is $117.39 and its 200 day simple moving average is $125.00. 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 Dividend Announcement

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

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.