Fox Run Management L.L.C. Acquires Shares of 4,157 Diageo plc $DEO

Key Points

• Fox Run Management L.L.C. acquired a new stake in Diageo plc, purchasing 4,157 shares valued at approximately $436,000 in the first quarter.
• Diageo recently declared a semi-annual dividend of $2.5192 per share, which represents a significant increase from the previous dividend of $1.62 and reflects a dividend yield of 370.0%.
• Analysts currently have a consensus rating of "Hold" for Diageo shares, with an average target price set at $129.00.

Fox Run Management L.L.C. acquired a new position in shares of Diageo plc (NYSE:DEO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,157 shares of the company's stock, valued at approximately $436,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DEO. Kovitz Investment Group Partners LLC increased its stake in Diageo by 234.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company's stock valued at $330,627,000 after acquiring an additional 1,822,994 shares during the period. Northern Trust Corp grew its stake in shares of Diageo by 39.9% in the 4th quarter. Northern Trust Corp now owns 649,769 shares of the company's stock valued at $82,605,000 after purchasing an additional 185,282 shares during the period. Crestwood Advisors Group LLC bought a new stake in shares of Diageo in the 1st quarter valued at approximately $16,944,000. GAMMA Investing LLC grew its stake in shares of Diageo by 4,656.6% in the 1st quarter. GAMMA Investing LLC now owns 154,305 shares of the company's stock valued at $16,170,000 after purchasing an additional 151,061 shares during the period. Finally, Clark Estates Inc. NY grew its stake in shares of Diageo by 116.4% in the 1st quarter. Clark Estates Inc. NY now owns 185,000 shares of the company's stock valued at $19,386,000 after purchasing an additional 99,500 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DEO has been the topic of several analyst reports. The Goldman Sachs Group upgraded Diageo from a "sell" rating to a "neutral" rating in a research note on Thursday, August 7th. Morgan Stanley reiterated an "underweight" rating on shares of Diageo in a research note on Monday, May 12th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $129.00.

Diageo Price Performance

NYSE DEO traded up $0.9830 during trading hours on Friday, reaching $115.3830. 1,065,900 shares of the company's stock were exchanged, compared to its average volume of 1,557,562. The stock has a market cap of $64.19 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 4.08 and a beta of 0.53. Diageo plc has a one year low of $96.45 and a one year high of $142.73. The firm has a fifty day moving average of $104.99 and a 200-day moving average of $107.80. The company has a current ratio of 1.63, a quick ratio of 0.67 and a debt-to-equity ratio of 1.64.

Diageo Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be given a dividend of $2.5192 per share. This is a boost from Diageo's previous semi-annual dividend of $1.62. The ex-dividend date is Friday, October 17th. This represents a yield of 370.0%. Diageo's dividend payout ratio is currently 72.55%.

About Diageo

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.