Sit Investment Associates Inc. Sells 975 Shares of Diageo plc (NYSE:DEO)

Sit Investment Associates Inc. reduced its position in Diageo plc (NYSE:DEO) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,440 shares of the company’s stock after selling 975 shares during the quarter. Sit Investment Associates Inc.’s holdings in Diageo were worth $2,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Canoe Financial LP raised its position in Diageo by 88,407.3% during the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after purchasing an additional 8,104,301 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Diageo in the 4th quarter valued at $123,892,000. ABC Arbitrage SA acquired a new position in shares of Diageo during the 4th quarter worth $37,777,000. JPMorgan Chase & Co. raised its holdings in shares of Diageo by 25.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,116,994 shares of the company’s stock worth $156,759,000 after buying an additional 229,946 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Diageo by 3,073.4% during the 4th quarter. Proficio Capital Partners LLC now owns 209,510 shares of the company’s stock worth $26,635,000 after buying an additional 202,908 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Stock Performance

Diageo stock opened at $104.19 on Monday. The business has a 50 day moving average of $110.12 and a 200-day moving average of $120.89. 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 $98.84 and a 1 year high of $144.28. The company has a market capitalization of $57.96 billion, a P/E ratio of 15.21, a P/E/G ratio of 2.39 and a beta of 0.63.

Diageo Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on the company. TD Cowen boosted their target price on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Berenberg Bank began coverage on shares of Diageo in a report on Wednesday, April 2nd. They set a “buy” rating on the stock. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. 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.com, the stock has a consensus rating of “Hold” and a consensus target price 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.