BCGM Wealth Management LLC Grows Holdings in Diageo plc (NYSE:DEO)

BCGM Wealth Management LLC lifted its position in shares of Diageo plc (NYSE:DEO) by 7.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,255 shares of the company’s stock after buying an additional 887 shares during the quarter. BCGM Wealth Management LLC’s holdings in Diageo were worth $1,558,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Canoe Financial LP grew its stake in Diageo by 88,407.3% in 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 period. FMR LLC increased its stake in Diageo by 9.1% in the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after purchasing an additional 437,646 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Diageo by 13.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock valued at $176,042,000 after purchasing an additional 147,920 shares during the last quarter. Confluence Investment Management LLC lifted its position in Diageo by 30.5% during the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock worth $170,623,000 after buying an additional 284,046 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Diageo by 25.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock worth $156,759,000 after buying an additional 229,946 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Up 2.4 %

Shares of NYSE:DEO opened at $110.54 on Monday. The stock has a 50-day simple moving average of $119.17 and a 200-day simple moving average of $125.52. The stock has a market capitalization of $61.49 billion, a P/E ratio of 16.14, a PEG ratio of 2.39 and a beta of 0.66. Diageo plc has a 1 year low of $105.72 and a 1 year high of $154.71. 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 Announces Dividend

The firm also recently disclosed 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 is Friday, February 28th. This represents a yield of 3.8%. Diageo’s dividend payout ratio is currently 73.28%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DEO. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, TD Cowen boosted their price objective on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Diageo has an average rating of “Hold” and an average 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.