Principal Financial Group Inc. purchased a new position in Diageo PLC (NYSE:DEO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,661 shares of the company’s stock, valued at approximately $558,000.
Several other hedge funds also recently made changes to their positions in DEO. BlackRock Inc. grew its stake in shares of Diageo PLC by 13,115.4% in the first quarter. BlackRock Inc. now owns 1,750,247 shares of the company’s stock worth $202,293,000 after acquiring an additional 1,737,003 shares during the period. Bank of America Corp DE grew its stake in shares of Diageo PLC by 6.1% in the first quarter. Bank of America Corp DE now owns 6,718,407 shares of the company’s stock worth $776,513,000 after acquiring an additional 385,257 shares during the period. Morgan Stanley grew its stake in shares of Diageo PLC by 12.6% in the first quarter. Morgan Stanley now owns 1,958,009 shares of the company’s stock worth $226,307,000 after acquiring an additional 218,450 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Diageo PLC in the first quarter worth approximately $14,790,000. Finally, Conning Inc. bought a new stake in shares of Diageo PLC in the second quarter worth approximately $3,677,000. Hedge funds and other institutional investors own 11.70% of the company’s stock.
A number of analysts have recently commented on DEO shares. BidaskClub lowered shares of Diageo PLC from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Sanford C. Bernstein upgraded shares of Diageo PLC from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $142.36 to $153.00 in a research note on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $154.20 price target (up from $142.25) on shares of Diageo PLC in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Diageo PLC from a “hold” rating to a “buy” rating and set a $149.00 price target for the company in a research note on Tuesday, August 22nd. Finally, Berenberg Bank lowered shares of Diageo PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. Diageo PLC presently has an average rating of “Hold” and a consensus price target of $152.35.
Shares of Diageo PLC (NYSE:DEO) opened at 136.06 on Friday. The stock’s 50 day moving average is $133.69 and its 200 day moving average is $124.48. The company has a market cap of $85.50 billion, a PE ratio of 24.44 and a beta of 0.73. Diageo PLC has a 52-week low of $99.46 and a 52-week high of $137.59.
The firm also recently announced a semiannual dividend, which was paid on Wednesday, October 11th. Stockholders of record on Friday, August 11th were given a dividend of $2.0322 per share. This is a positive change from Diageo PLC’s previous semiannual dividend of $1.19. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a dividend yield of 3.12%.
Diageo PLC Company Profile
Diageo PLC is an alcoholic beverage company. The Company operates in various categories, including spirits and beer. Its geographic segments include North America; Europe, Russia and Turkey; Africa; Latin America and Caribbean, and Asia Pacific. Its principal products includes Scotch whisky, Gin, Vodka, Rum, Beer, Irish Cream Liqueur, Wine, Raki, Tequila, Canadian Whisky, American Whiskey, Progressive Adult Beverages, Cachaca, Brandy and Ready to Drink.
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