Diageo plc $DEO Shares Acquired by Assetmark Inc.

Key Points

• Assetmark Inc. boosted its stake in Diageo by 12.7% in Q4, buying 29,271 shares to own 259,051 shares worth roughly $22.35 million per its SEC filing.
• The company declared a $0.80 per share dividend payable June 4 to shareholders of record April 17 (ex-dividend April 17); the article reports a quoted yield of 207.0%.
• Analyst coverage is mixed with a MarketBeat average rating of "Hold" and an average price target of $116.50, alongside recent upgrades from BNP Paribas Exane and Deutsche Bank and a $124 target from Sanford C. Bernstein.

Assetmark Inc. boosted its position in Diageo plc (NYSE:DEO - Free Report) by 12.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 259,051 shares of the company's stock after purchasing an additional 29,271 shares during the period. Assetmark Inc.'s holdings in Diageo were worth $22,348,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in DEO. Arlington Trust Co LLC increased its holdings in shares of Diageo by 3,885.7% in the third quarter. Arlington Trust Co LLC now owns 279 shares of the company's stock valued at $27,000 after buying an additional 272 shares in the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Diageo in the third quarter valued at $29,000. Spire Wealth Management increased its holdings in shares of Diageo by 123.6% in the fourth quarter. Spire Wealth Management now owns 322 shares of the company's stock valued at $28,000 after buying an additional 178 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of Diageo by 8,000.0% in the fourth quarter. Sound Income Strategies LLC now owns 324 shares of the company's stock valued at $29,000 after buying an additional 320 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX bought a new position in shares of Diageo in the third quarter valued at $32,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Stock Performance

Shares of DEO opened at $79.59 on Thursday. The company has a 50-day simple moving average of $83.84 and a 200-day simple moving average of $88.81. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. Diageo plc has a 52 week low of $72.45 and a 52 week high of $116.69.

Diageo Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, June 4th. Stockholders of record on Friday, April 17th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, April 17th. This represents a dividend yield of 207.0%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DEO. Argus raised shares of Diageo to a "hold" rating in a research note on Tuesday, March 10th. Weiss Ratings restated a "sell (d)" rating on shares of Diageo in a report on Wednesday, January 21st. Sanford C. Bernstein set a $124.00 price target on shares of Diageo and gave the company an "outperform" rating in a report on Monday, December 29th. BNP Paribas Exane upgraded shares of Diageo from an "underperform" rating to a "neutral" rating in a report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a "hold" rating to a "buy" rating in a report on Tuesday, March 31st. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $116.50.

Diageo Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange NYSE: DEO and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo's core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.

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