PAX Financial Group LLC Sells 226 Shares of Diageo plc (NYSE:DEO)

PAX Financial Group LLC trimmed its holdings in Diageo plc (NYSE:DEO) by 6.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,222 shares of the company’s stock after selling 226 shares during the period. PAX Financial Group LLC’s holdings in Diageo were worth $410,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Canoe Financial LP grew its holdings 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. Raymond James Financial Inc. purchased a new stake in Diageo in the 4th quarter valued at about $123,892,000. ABC Arbitrage SA purchased a new position in shares of Diageo during the fourth quarter worth approximately $37,777,000. JPMorgan Chase & Co. increased its position in shares of Diageo by 25.9% during the third quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock worth $156,759,000 after acquiring an additional 229,946 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in shares of Diageo by 3,073.4% during the fourth quarter. Proficio Capital Partners LLC now owns 209,510 shares of the company’s stock valued at $26,635,000 after acquiring an additional 202,908 shares in the last quarter. 8.97% of the stock is owned by institutional investors.

Diageo Trading Down 3.5 %

Shares of NYSE DEO opened at $104.19 on Friday. The business has a fifty day moving average price of $110.12 and a 200 day moving average price of $121.06. Diageo plc has a 1-year low of $103.70 and a 1-year high of $145.55. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The stock has a market capitalization of $57.96 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63.

Diageo Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on DEO shares. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Berenberg Bank assumed coverage on Diageo in a report on Wednesday. They issued a “buy” rating for the company. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, TD Cowen raised 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company 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.