Parallel Advisors LLC Acquires 1,464 Shares of Diageo plc (NYSE:DEO)

Parallel Advisors LLC raised its holdings in shares of Diageo plc (NYSE:DEO) by 30.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,278 shares of the company’s stock after acquiring an additional 1,464 shares during the period. Parallel Advisors LLC’s holdings in Diageo were worth $798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in Diageo during the third quarter valued at approximately $25,000. Eastern Bank grew its holdings in shares of Diageo by 107.8% in the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after purchasing an additional 125 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Diageo in the fourth quarter worth approximately $35,000. Kestra Investment Management LLC bought a new position in shares of Diageo in the fourth quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Diageo in the fourth quarter worth approximately $47,000. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. TD Cowen raised their target price on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Diageo has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Stock Performance

NYSE:DEO opened at $106.40 on Thursday. The stock has a market cap of $59.19 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. The firm’s fifty day simple moving average is $113.22 and its 200 day simple moving average is $123.00. Diageo plc has a twelve month low of $105.23 and a twelve month high of $149.44. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

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