Kovitz Investment Group Partners LLC Increases Stake in Diageo plc (NYSE:DEO)

Kovitz Investment Group Partners LLC grew its position in Diageo plc (NYSE:DEO) by 234.4% in the fourth quarter, HoldingsChannel reports. The fund owned 2,600,702 shares of the company’s stock after acquiring an additional 1,822,994 shares during the quarter. Diageo accounts for about 1.1% of Kovitz Investment Group Partners LLC’s portfolio, making the stock its 29th largest position. Kovitz Investment Group Partners LLC’s holdings in Diageo were worth $330,627,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. CoreFirst Bank & Trust purchased a new position in shares of Diageo during the 4th quarter valued at approximately $25,000. Eastern Bank raised its position in Diageo by 107.8% during the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after acquiring an additional 125 shares during the period. Modus Advisors LLC purchased a new position in Diageo during the fourth quarter valued at $35,000. Kestra Investment Management LLC acquired a new stake in shares of Diageo in the fourth quarter valued at about $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Diageo during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Up 0.6 %

DEO stock opened at $111.65 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The firm has a 50-day moving average of $108.16 and a two-hundred day moving average of $117.98. Diageo plc has a 12 month low of $100.72 and a 12 month high of $144.27. The company has a market cap of $62.11 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.39 and a beta of 0.63.

Diageo Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Berenberg Bank initiated coverage on shares of Diageo in a research note on Wednesday, April 2nd. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, TD Cowen boosted their price target on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.