Hsbc Holdings PLC Has $12.94 Million Stock Holdings in Diageo plc (NYSE:DEO)

Hsbc Holdings PLC grew its stake in Diageo plc (NYSE:DEO - Free Report) by 63.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,978 shares of the company's stock after acquiring an additional 39,468 shares during the period. Hsbc Holdings PLC's holdings in Diageo were worth $12,944,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Alliance Wealth Advisors LLC UT grew its holdings in Diageo by 2.6% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,383 shares of the company's stock worth $430,000 after purchasing an additional 86 shares during the period. Savant Capital LLC grew its holdings in Diageo by 5.0% during the fourth quarter. Savant Capital LLC now owns 1,864 shares of the company's stock worth $237,000 after purchasing an additional 88 shares during the period. GeoWealth Management LLC grew its holdings in Diageo by 1.3% during the fourth quarter. GeoWealth Management LLC now owns 6,944 shares of the company's stock worth $883,000 after purchasing an additional 92 shares during the period. Diversified Trust Co grew its holdings in Diageo by 5.6% during the fourth quarter. Diversified Trust Co now owns 1,855 shares of the company's stock worth $236,000 after purchasing an additional 98 shares during the period. Finally, Cromwell Holdings LLC grew its holdings in Diageo by 8.6% during the fourth quarter. Cromwell Holdings LLC now owns 1,286 shares of the company's stock worth $163,000 after purchasing an additional 102 shares during the period. Institutional investors own 8.97% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on DEO. Berenberg Bank began coverage on Diageo in a report on Wednesday, April 2nd. They set a "buy" rating for the company. Deutsche Bank Aktiengesellschaft upgraded Diageo from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Finally, TD Cowen lifted their price target on Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Diageo currently has a consensus rating of "Hold" and a consensus price target of $129.00.

Diageo Stock Performance

DEO stock traded down $0.54 during trading hours on Thursday, hitting $111.48. 532,898 shares of the stock were exchanged, compared to its average volume of 926,643. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $62.02 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.39 and a beta of 0.63. The company has a 50-day simple moving average of $108.40 and a two-hundred day simple moving average of $117.34. Diageo plc has a 12 month low of $100.72 and a 12 month high of $144.27.

Diageo Dividend Announcement

The firm also recently announced a semi-annual dividend, which was paid on Thursday, April 24th. Shareholders of record on Friday, February 28th were given a dividend of $1.62 per share. The ex-dividend date was Friday, February 28th. This represents a dividend yield of 3.8%. Diageo's payout ratio is presently 46.42%.

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.