Kovitz Investment Group Partners LLC Raises Position in Diageo plc (NYSE:DEO)

Kovitz Investment Group Partners LLC boosted its stake in Diageo plc (NYSE:DEO - Free Report) by 234.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,600,702 shares of the company's stock after purchasing an additional 1,822,994 shares during the period. Diageo comprises about 1.1% of Kovitz Investment Group Partners LLC's holdings, making the stock its 29th largest holding. Kovitz Investment Group Partners LLC owned about 0.47% of Diageo worth $330,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Canoe Financial LP grew its stake in shares of Diageo by 88,407.3% in the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company's stock worth $1,031,465,000 after purchasing an additional 8,104,301 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Diageo by 11.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 37,718 shares of the company's stock valued at $4,795,000 after buying an additional 3,964 shares in the last quarter. Maia Wealth LLC raised its position in shares of Diageo by 24.7% during the fourth quarter. Maia Wealth LLC now owns 13,112 shares of the company's stock worth $1,648,000 after purchasing an additional 2,593 shares during the period. Aviso Financial Inc. grew its holdings in shares of Diageo by 3.4% during the fourth quarter. Aviso Financial Inc. now owns 242,637 shares of the company's stock valued at $30,846,000 after buying an additional 7,954 shares during the last quarter. Finally, Tevis Investment Management lifted its holdings in shares of Diageo by 159.7% in the fourth quarter. Tevis Investment Management now owns 13,869 shares of the company's stock valued at $1,763,000 after purchasing an additional 8,528 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD Cowen upped their price objective on shares of Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Berenberg Bank initiated coverage on Diageo in a research report on Wednesday, April 2nd. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Diageo has a consensus rating of "Hold" and an average target price of $129.00.

Diageo Stock Performance

DEO traded up $0.63 on Wednesday, hitting $111.53. The company's stock had a trading volume of 282,812 shares, compared to its average volume of 928,612. Diageo plc has a 12 month low of $100.72 and a 12 month high of $144.27. The firm has a market cap of $62.04 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63. 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 company's 50 day simple moving average is $108.37 and its 200-day simple moving average is $117.38.

Diageo Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 24th. Stockholders of record on Friday, February 28th were given a $1.62 dividend. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, February 28th. Diageo's dividend payout ratio (DPR) is presently 46.42%.

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.