Norden Group LLC Has $698,000 Holdings in Diageo plc (NYSE:DEO)

Norden Group LLC lifted its holdings in Diageo plc (NYSE:DEO) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,492 shares of the company’s stock after purchasing an additional 372 shares during the period. Norden Group LLC’s holdings in Diageo were worth $698,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Canoe Financial LP lifted its position in Diageo by 88,407.3% during the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after acquiring an additional 8,104,301 shares during the last quarter. Natixis Advisors LLC lifted its position in Diageo by 105.7% during the 3rd quarter. Natixis Advisors LLC now owns 949,411 shares of the company’s stock worth $133,240,000 after acquiring an additional 487,904 shares during the last quarter. FMR LLC lifted its position in Diageo by 9.1% during the 3rd quarter. FMR LLC now owns 5,242,065 shares of the company’s stock worth $735,671,000 after acquiring an additional 437,646 shares during the last quarter. ABC Arbitrage SA acquired a new position in Diageo during the 4th quarter worth $37,777,000. Finally, Confluence Investment Management LLC lifted its position in Diageo by 30.5% during the 3rd quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after acquiring an additional 284,046 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

DEO has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research report on Monday. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Finally, TD Cowen boosted their price objective on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $129.00.

Diageo Stock Performance

NYSE:DEO opened at $109.10 on Tuesday. The company has a market cap of $60.69 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 2.39 and a beta of 0.66. The firm’s 50-day moving average is $117.06 and its 200-day moving average is $124.80. Diageo plc has a 52-week low of $105.72 and a 52-week high of $151.76. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60.

Diageo Dividend Announcement

The firm 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 $1.62 dividend. The ex-dividend date is Friday, February 28th. This represents a yield of 3.8%. Diageo’s payout ratio is currently 46.42%.

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.