Kornitzer Capital Management Inc. KS Sells 43,819 Shares of Diageo plc (NYSE:DEO)

Kornitzer Capital Management Inc. KS cut its position in shares of Diageo plc (NYSE:DEO) by 33.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,862 shares of the company’s stock after selling 43,819 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Diageo were worth $11,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Canoe Financial LP increased its stake in shares of Diageo by 88,407.3% during the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after purchasing an additional 8,104,301 shares in the last quarter. Natixis Advisors LLC increased its position in Diageo by 105.7% during the 3rd quarter. Natixis Advisors LLC now owns 949,411 shares of the company’s stock valued at $133,240,000 after buying an additional 487,904 shares in the last quarter. FMR LLC increased its position in 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 in the last quarter. ABC Arbitrage SA purchased a new position in Diageo during the fourth quarter valued at $37,777,000. Finally, Raymond James & Associates boosted its holdings in Diageo by 52.3% in the third quarter. Raymond James & Associates now owns 853,640 shares of the company’s stock worth $119,800,000 after acquiring an additional 293,017 shares in the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Diageo Stock Performance

DEO opened at $107.45 on Tuesday. The company’s 50-day simple moving average is $121.08 and its two-hundred day simple moving average is $126.00. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.55 and a current ratio of 1.60. Diageo plc has a 52-week low of $105.72 and a 52-week high of $154.71.

Diageo Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a 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.