Scotia Capital Inc. Has $38.22 Million Stake in Diageo plc (NYSE:DEO)

Scotia Capital Inc. reduced its position in Diageo plc (NYSE:DEO) by 15.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 300,622 shares of the company’s stock after selling 53,922 shares during the period. Scotia Capital Inc.’s holdings in Diageo were worth $38,219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DEO. Alliance Wealth Advisors LLC UT lifted its holdings in shares of Diageo by 2.6% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,383 shares of the company’s stock valued at $430,000 after purchasing an additional 86 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Diageo by 5.0% in the fourth quarter. Savant Capital LLC now owns 1,864 shares of the company’s stock valued at $237,000 after buying an additional 88 shares during the period. Diversified Trust Co lifted its stake in Diageo by 5.6% during the fourth quarter. Diversified Trust Co now owns 1,855 shares of the company’s stock worth $236,000 after purchasing an additional 98 shares during the last quarter. Cromwell Holdings LLC increased its holdings in shares of Diageo by 8.6% during the fourth quarter. Cromwell Holdings LLC now owns 1,286 shares of the company’s stock worth $163,000 after buying an additional 102 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Diageo by 2.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,735 shares of the company’s stock valued at $475,000 after purchasing an additional 103 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DEO. TD Cowen increased 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. Berenberg Bank initiated coverage on shares of Diageo in a report on Wednesday, April 2nd. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $129.00.

Diageo Price Performance

Diageo stock opened at $107.36 on Thursday. The stock has a market cap of $59.72 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63. 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 plc has a 1 year low of $100.72 and a 1 year high of $144.27. The firm has a 50-day moving average of $108.30 and a two-hundred day moving average of $120.01.

Diageo Dividend Announcement

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