Vestmark Advisory Solutions Inc. Boosts Stock Position in Diageo plc $DEO

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Diageo plc by 149.0%, owning 49,594 shares valued at approximately $5.2 million after acquiring additional shares in the first quarter.
• Several other hedge funds also adjusted their positions in Diageo, with institutional investors currently owning 8.97% of the stock.
• The stock currently holds a consensus rating of "Hold" with a price target of $129.00, despite varied ratings from different research firms.

Vestmark Advisory Solutions Inc. boosted its position in Diageo plc (NYSE:DEO - Free Report) by 149.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,594 shares of the company's stock after buying an additional 29,680 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Diageo were worth $5,197,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Venturi Wealth Management LLC boosted its stake in Diageo by 3.6% during the 1st quarter. Venturi Wealth Management LLC now owns 2,582 shares of the company's stock valued at $271,000 after purchasing an additional 89 shares during the last quarter. GeoWealth Management LLC boosted its stake in shares of Diageo by 1.3% in the 4th quarter. GeoWealth Management LLC now owns 6,944 shares of the company's stock worth $883,000 after buying an additional 92 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of Diageo by 5.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,867 shares of the company's stock worth $237,000 after buying an additional 95 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of Diageo by 1.3% in the 1st quarter. Grove Bank & Trust now owns 7,560 shares of the company's stock worth $792,000 after buying an additional 98 shares during the last quarter. Finally, Malaga Cove Capital LLC boosted its stake in shares of Diageo by 3.3% in the 4th quarter. Malaga Cove Capital LLC now owns 3,101 shares of the company's stock worth $394,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company's stock.

Diageo Stock Performance

Diageo stock traded down $0.20 during trading on Monday, hitting $110.75. The stock had a trading volume of 1,391,772 shares, compared to its average volume of 1,116,879. Diageo plc has a 1 year low of $96.45 and a 1 year high of $142.73. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The stock's 50 day moving average is $104.27 and its two-hundred day moving average is $107.79. The stock has a market cap of $61.61 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 3.34 and a beta of 0.53.

Diageo Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be paid a $2.5192 dividend. The ex-dividend date is Friday, October 17th. This is a positive change from Diageo's previous semi-annual dividend of $1.62. This represents a yield of 370.0%. Diageo's dividend payout ratio (DPR) is currently 46.42%.

Wall Street Analyst Weigh In

DEO has been the topic of a number of research analyst reports. Morgan Stanley restated an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. The Goldman Sachs Group upgraded Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Diageo presently has a consensus rating of "Hold" and a consensus price target of $129.00.

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.