CORDA Investment Management LLC. Increases Position in Diageo plc (NYSE:DEO)

CORDA Investment Management LLC. increased its position in Diageo plc (NYSE:DEO) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 232,735 shares of the company’s stock after buying an additional 658 shares during the period. Diageo comprises approximately 2.4% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 19th biggest holding. CORDA Investment Management LLC.’s holdings in Diageo were worth $29,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Diageo by 38.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the company’s stock worth $326,000 after purchasing an additional 643 shares during the period. International Assets Investment Management LLC acquired a new stake in Diageo during the 3rd quarter valued at approximately $9,769,000. Arkadios Wealth Advisors acquired a new stake in Diageo during the 3rd quarter valued at approximately $338,000. Pallas Capital Advisors LLC purchased a new stake in shares of Diageo in the 3rd quarter valued at $200,000. Finally, Mutual Advisors LLC increased its stake in shares of Diageo by 6.3% in the third quarter. Mutual Advisors LLC now owns 12,326 shares of the company’s stock worth $1,657,000 after acquiring an additional 733 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Performance

DEO opened at $108.53 on Friday. The firm has a fifty day moving average price of $117.72 and a 200 day moving average price of $125.11. Diageo plc has a 1 year low of $105.72 and a 1 year high of $153.36. The stock has a market cap of $60.38 billion, a P/E ratio of 15.84, a P/E/G ratio of 2.39 and a beta of 0.66. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67.

Diageo Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo’s dividend payout ratio (DPR) is currently 46.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DEO shares. TD Cowen boosted their target price on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Finally, UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $129.00.

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.