Parkside Financial Bank & Trust Sells 323 Shares of Diageo plc (NYSE:DEO)

Parkside Financial Bank & Trust lessened its stake in Diageo plc (NYSE:DEO) by 22.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,111 shares of the company’s stock after selling 323 shares during the period. Parkside Financial Bank & Trust’s holdings in Diageo were worth $141,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in DEO. Canoe Financial LP lifted 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 valued at $1,031,465,000 after buying an additional 8,104,301 shares during the period. Natixis Advisors LLC lifted its stake in shares of Diageo by 105.7% in the third quarter. Natixis Advisors LLC now owns 949,411 shares of the company’s stock valued at $133,240,000 after buying an additional 487,904 shares during the period. FMR LLC lifted its stake in shares of Diageo by 9.1% in the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after buying an additional 437,646 shares during the period. ABC Arbitrage SA bought a new stake in shares of Diageo in the fourth quarter valued at about $37,777,000. Finally, Confluence Investment Management LLC lifted its stake in shares of Diageo by 30.5% in the third quarter. Confluence Investment Management LLC now owns 1,215,786 shares of the company’s stock valued at $170,623,000 after buying an additional 284,046 shares during the period. Institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

DEO has been the subject of several research reports. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. TD Cowen increased their price target 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. Finally, Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $129.00.

Diageo Stock Performance

NYSE:DEO opened at $108.83 on Friday. Diageo plc has a 12-month low of $105.72 and a 12-month high of $151.76. 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 firm has a market capitalization of $60.54 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 2.39 and a beta of 0.66. The firm has a 50-day moving average price of $117.39 and a 200 day moving average price of $124.98.

Diageo Announces Dividend

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