Bearing Point Capital LLC Invests $3.62 Million in Diageo plc (NYSE:DEO)

Bearing Point Capital LLC acquired a new position in Diageo plc (NYSE:DEO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 28,507 shares of the company’s stock, valued at approximately $3,624,000.

Several other large investors also recently added to or reduced their stakes in DEO. Canoe Financial LP grew its position in shares of Diageo by 88,407.3% during the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after acquiring an additional 8,104,301 shares during the period. FMR LLC lifted its position in Diageo by 10.9% during the fourth quarter. FMR LLC now owns 5,813,938 shares of the company’s stock valued at $739,126,000 after purchasing an additional 571,873 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in Diageo by 234.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company’s stock valued at $330,627,000 after purchasing an additional 1,822,994 shares during the period. Bank of Montreal Can increased its position in Diageo by 1,181.5% in the fourth quarter. Bank of Montreal Can now owns 1,406,004 shares of the company’s stock worth $178,745,000 after buying an additional 1,296,285 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Diageo by 9.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company’s stock worth $155,167,000 after buying an additional 103,540 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DEO shares. TD Cowen increased their target price on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Berenberg Bank assumed coverage on shares of Diageo in a research report on Wednesday, April 2nd. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $129.00.

Diageo Trading Up 1.8 %

Diageo stock opened at $113.34 on Friday. Diageo plc has a 1 year low of $100.72 and a 1 year high of $144.27. The firm’s 50 day moving average price is $108.49 and its 200-day moving average price is $116.90. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The stock has a market cap of $63.05 billion, a P/E ratio of 16.55, a PEG ratio of 2.39 and a beta of 0.63.

Diageo Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 24th. Shareholders of record on Friday, February 28th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a yield of 3.8%. Diageo’s dividend payout ratio is currently 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.