5,715 Diageo plc $DEO Shares Bought by Equity Investment Corp

Equity Investment Corp increased its position in Diageo plc (NYSE:DEO) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,673,224 shares of the company’s stock after acquiring an additional 5,715 shares during the period. Diageo comprises approximately 2.0% of Equity Investment Corp’s holdings, making the stock its 13th largest position. Equity Investment Corp owned approximately 0.30% of Diageo worth $143,228,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC boosted its stake in Diageo by 28.1% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 598 shares of the company’s stock valued at $51,000 after purchasing an additional 131 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of Diageo by 1.3% in the third quarter. Sterling Capital Management LLC now owns 11,307 shares of the company’s stock worth $968,000 after purchasing an additional 145 shares during the last quarter. Axiom Investment Management LLC raised its stake in shares of Diageo by 20.2% in the third quarter. Axiom Investment Management LLC now owns 876 shares of the company’s stock worth $75,000 after purchasing an additional 147 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Diageo by 2.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,513 shares of the company’s stock worth $443,000 after purchasing an additional 152 shares during the last quarter. Finally, Sandy Cove Advisors LLC lifted its holdings in shares of Diageo by 2.9% during the second quarter. Sandy Cove Advisors LLC now owns 6,189 shares of the company’s stock valued at $497,000 after purchasing an additional 174 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Up 0.2%

NYSE DEO opened at $101.49 on Wednesday. The business’s fifty day moving average price is $90.36 and its 200-day moving average price is $86.20. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.62. Diageo plc has a 1-year low of $72.45 and a 1-year high of $102.74.

Diageo Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, October 16th will be given a dividend of $1.20 per share. This represents a yield of 252.0%. The ex-dividend date is Friday, October 16th.

Analysts Set New Price Targets

DEO has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “neutral” rating on shares of Diageo in a report on Wednesday, October 14th. Jefferies Financial Group restated a “buy” rating on shares of Diageo in a research note on Tuesday, October 13th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Diageo in a report on Monday, August 10th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Diageo in a report on Sunday, August 23rd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Diageo in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $99.75.

Diageo Company Profile

Diageo plc is a global beverage company that produces and markets alcoholic drinks, including spirits, beer and ready-to-drink products. Its portfolio includes brands such as Johnnie Walker, Guinness, Smirnoff, Baileys, Tanqueray and Captain Morgan. The company sells its products in markets around the world through a combination of owned operations, distributors and other commercial partners. Its offerings span categories including Scotch whisky, vodka, gin, rum, tequila, liqueurs and stout. Diageo was formed in 1997 through the merger of Guinness and Grand Metropolitan.