International Assets Investment Management LLC Buys New Position in Diageo plc (NYSE:DEO)

International Assets Investment Management LLC purchased a new stake in shares of Diageo plc (NYSE:DEO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 105,661 shares of the company's stock, valued at approximately $15,391,000.

A number of other hedge funds also recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its position in Diageo by 26.6% during the third quarter. Envestnet Asset Management Inc. now owns 659,034 shares of the company's stock valued at $98,315,000 after acquiring an additional 138,406 shares during the last quarter. HS Management Partners LLC grew its stake in Diageo by 16.3% during the fourth quarter. HS Management Partners LLC now owns 706,205 shares of the company's stock worth $102,866,000 after purchasing an additional 98,819 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Diageo by 43.5% in the third quarter. The Manufacturers Life Insurance Company now owns 321,606 shares of the company's stock worth $47,977,000 after purchasing an additional 97,414 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Diageo in the third quarter worth approximately $10,722,000. Finally, Hutchinson Capital Management CA acquired a new position in Diageo in the third quarter valued at approximately $8,966,000. Institutional investors and hedge funds own 8.97% of the company's stock.

Analysts Set New Price Targets

Separately, BNP Paribas lowered shares of Diageo from a "neutral" rating to an "underperform" rating in a research note on Friday, January 12th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $3,797.50.

Diageo Price Performance

Shares of DEO traded up $0.87 during trading hours on Friday, reaching $137.44. The stock had a trading volume of 683,538 shares, compared to its average volume of 826,219. The firm has a 50-day simple moving average of $145.01 and a 200 day simple moving average of $145.52. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 0.65. Diageo plc has a 12 month low of $135.63 and a 12 month high of $188.23.

Diageo Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, March 1st were given a dividend of $1.62 per share. This represents a dividend yield of 2.7%. The ex-dividend date was Thursday, February 29th.

Diageo Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.