Diageo plc $DEO Stake Boosted by Infusive Asset Management Inc.

Key Points

• Infusive Asset Management Inc. has increased its stock holdings in Diageo plc by 12.3%, bringing its total to $3.59 million, making it the firm's 24th largest position.
• Analysts have mixed ratings on Diageo, with Goldman Sachs upgrading it from "sell" to "neutral," while Morgan Stanley maintained an "underweight" rating; overall, the stock has an average rating of "Hold."
• Diageo is set to pay a semi-annual dividend of $2.5192 per share on December 4th, reflecting a significant increase from the previous dividend of $1.62.

Infusive Asset Management Inc. boosted its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 12.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,268 shares of the company's stock after purchasing an additional 3,757 shares during the period. Diageo accounts for approximately 1.7% of Infusive Asset Management Inc.'s holdings, making the stock its 24th largest holding. Infusive Asset Management Inc.'s holdings in Diageo were worth $3,591,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DEO. Greenline Partners LLC increased its position in shares of Diageo by 46.4% in the first quarter. Greenline Partners LLC now owns 707 shares of the company's stock valued at $74,000 after acquiring an additional 224 shares during the last quarter. Hancock Whitney Corp boosted its position in Diageo by 55.9% during the first quarter. Hancock Whitney Corp now owns 3,669 shares of the company's stock valued at $384,000 after acquiring an additional 1,315 shares during the last quarter. Banque Transatlantique SA bought a new stake in Diageo during the first quarter valued at $398,000. Federation des caisses Desjardins du Quebec raised its holdings in shares of Diageo by 473.0% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 146,519 shares of the company's stock worth $15,354,000 after acquiring an additional 120,948 shares during the last quarter. Finally, Chiron Capital Management LLC increased its stake in shares of Diageo by 102.1% during the 1st quarter. Chiron Capital Management LLC now owns 17,805 shares of the company's stock worth $1,866,000 after purchasing an additional 8,996 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DEO shares. Morgan Stanley restated an "underweight" rating on shares of Diageo in a research report on Monday, May 12th. The Goldman Sachs Group upgraded shares of Diageo from a "sell" rating to a "neutral" rating in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $129.00.

Diageo Stock Up 0.4%

Shares of NYSE:DEO traded up $0.42 during trading on Friday, hitting $110.16. 858,906 shares of the company were exchanged, compared to its average volume of 1,002,617. The stock has a market capitalization of $61.29 billion, a P/E ratio of 16.08, a PEG ratio of 3.90 and a beta of 0.59. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64. Diageo plc has a 12-month low of $96.45 and a 12-month high of $142.73. The firm's 50 day moving average price is $107.02 and its 200-day moving average price is $107.99.

Diageo Increases Dividend

The firm 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. This represents a yield of 370.0%. The ex-dividend date of this dividend is Friday, October 17th. This is a positive change from Diageo's previous semi-annual dividend of $1.62. Diageo's dividend payout ratio is currently 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.