DRH Investments Inc. Buys 40,612 Shares of Diageo plc (NYSE:DEO)

DRH Investments Inc. grew its position in shares of Diageo plc (NYSE:DEO - Free Report) by 121.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 74,149 shares of the company's stock after acquiring an additional 40,612 shares during the quarter. Diageo comprises approximately 10.8% of DRH Investments Inc.'s holdings, making the stock its 3rd largest holding. DRH Investments Inc.'s holdings in Diageo were worth $9,427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Diageo by 84.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 33,754 shares of the company's stock worth $4,737,000 after purchasing an additional 15,487 shares during the period. Morse Asset Management Inc bought a new position in Diageo in the third quarter worth approximately $95,000. EP Wealth Advisors LLC lifted its holdings in shares of Diageo by 20.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 2,546 shares of the company's stock worth $357,000 after buying an additional 425 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Diageo by 10.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,769 shares of the company's stock worth $525,000 after purchasing an additional 353 shares during the period. Finally, TD Private Client Wealth LLC raised its stake in Diageo by 534.8% in the third quarter. TD Private Client Wealth LLC now owns 19,736 shares of the company's stock worth $2,770,000 after buying an additional 16,627 shares in the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. TD Cowen raised their price objective on Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a research report on Wednesday, January 8th. Berenberg Bank assumed coverage on shares of Diageo in a research note 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 research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $129.00.

Diageo Stock Performance

Shares of DEO traded up $1.13 during mid-day trading on Wednesday, hitting $108.70. 662,942 shares of the company's stock were exchanged, compared to its average volume of 1,186,176. Diageo plc has a fifty-two week low of $100.72 and a fifty-two week high of $144.27. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The business's 50 day moving average is $107.87 and its two-hundred day moving average is $119.21. The firm has a market capitalization of $60.47 billion, a P/E ratio of 15.87, a P/E/G ratio of 2.39 and a beta of 0.63.

Diageo Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo's dividend payout ratio (DPR) is presently 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.