Foundation Resource Management Inc. Invests $9.13 Million in Diageo plc $DEO

Key Points

• Foundation Resource Management acquired 105,827 shares of Diageo in Q4, a new position valued at approximately $9.13 million, representing about 1.2% of the firm's portfolio and its 27th-largest holding.
• Analyst consensus on Diageo is a Hold with a consensus target price of $116.50 (breakdown: 5 Buy, 6 Hold, 2 Sell).
• Diageo announced a dividend of $0.80 per share, payable June 4, with the record/ex-dividend date listed as April 17.

Foundation Resource Management Inc. acquired a new position in Diageo plc (NYSE:DEO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 105,827 shares of the company's stock, valued at approximately $9,130,000. Diageo comprises approximately 1.2% of Foundation Resource Management Inc.'s portfolio, making the stock its 27th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arlington Trust Co LLC grew its stake 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 worth $27,000 after acquiring an additional 272 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in shares of Diageo in the third quarter worth $29,000. Spire Wealth Management boosted its stake in Diageo by 123.6% during the fourth quarter. Spire Wealth Management now owns 322 shares of the company's stock worth $28,000 after buying an additional 178 shares in the last quarter. Sound Income Strategies LLC boosted its stake in Diageo by 8,000.0% during the fourth quarter. Sound Income Strategies LLC now owns 324 shares of the company's stock worth $29,000 after buying an additional 320 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX acquired a new stake in Diageo during the third quarter worth $32,000. Institutional investors and hedge funds own 8.97% of the company's stock.

Wall Street Analyst Weigh In

DEO has been the topic of a number of recent research reports. Zacks Research upgraded shares of Diageo from a "strong sell" rating to a "hold" rating in a research note on Monday, March 23rd. BNP Paribas Exane upgraded shares of Diageo from an "underperform" rating to a "neutral" rating in a research note on Wednesday, March 25th. Barclays reiterated an "overweight" rating on shares of Diageo in a research note on Thursday, December 11th. Argus upgraded shares of Diageo to a "hold" rating in a research note on Tuesday, March 10th. Finally, Royal Bank Of Canada upgraded shares of Diageo from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, January 6th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $116.50.

Diageo Stock Performance

DEO opened at $78.53 on Friday. The firm's fifty day moving average price is $85.00 and its two-hundred day moving average price is $89.29. Diageo plc has a fifty-two week low of $72.45 and a fifty-two week high of $116.69. The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 1.53.

Diageo Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, April 17th will be issued 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%.

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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