Parallel Advisors LLC Increases Stock Position in Diageo plc (NYSE:DEO)

Parallel Advisors LLC raised its position in shares of Diageo plc (NYSE:DEO) by 30.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,278 shares of the company’s stock after buying an additional 1,464 shares during the quarter. Parallel Advisors LLC’s holdings in Diageo were worth $798,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Canoe Financial LP lifted its position in Diageo by 88,407.3% during the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after buying an additional 8,104,301 shares during the period. FMR LLC lifted its position in Diageo by 9.1% during the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after buying an additional 437,646 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Diageo by 13.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,254,393 shares of the company’s stock worth $176,042,000 after purchasing an additional 147,920 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 229,946 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Diageo by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 991,459 shares of the company’s stock worth $139,141,000 after purchasing an additional 64,367 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DEO. Deutsche Bank Aktiengesellschaft raised Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. TD Cowen lifted 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. UBS Group raised Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group raised Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $129.00.

Diageo Price Performance

NYSE DEO opened at $106.40 on Thursday. Diageo plc has a one year low of $105.23 and a one year high of $149.44. The stock has a 50-day moving average of $113.22 and a 200 day moving average of $123.00. The company has a market capitalization of $59.19 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 2.39 and a beta of 0.65. 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 disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be issued a $1.62 dividend. The ex-dividend date is Friday, February 28th. This represents a yield of 3.8%. Diageo’s payout ratio is 46.42%.

Diageo 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.