Summit Financial LLC Has $1.04 Million Position in Diageo plc (NYSE:DEO)

Summit Financial LLC raised its position in Diageo plc (NYSE:DEO) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,149 shares of the company’s stock after purchasing an additional 403 shares during the quarter. Summit Financial LLC’s holdings in Diageo were worth $1,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA bought a new stake in Diageo during the 3rd quarter worth approximately $27,000. Planned Solutions Inc. bought a new position in Diageo during the 4th quarter worth $27,000. Addison Advisors LLC lifted its holdings in Diageo by 97.3% during the 4th quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $32,000 after buying an additional 107 shares during the period. Criterion Capital Advisors LLC bought a new stake in shares of Diageo in the 4th quarter valued at about $36,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Diageo in the third quarter valued at about $48,000. 8.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DEO shares. BNP Paribas lowered shares of Diageo from a “neutral” rating to an “underperform” rating in a report on Friday, January 12th. Argus lowered shares of Diageo from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, Diageo currently has a consensus rating of “Hold” and an average target price of $3,797.50.

Diageo Stock Performance

DEO traded down $0.60 during midday trading on Thursday, hitting $136.45. The company had a trading volume of 46,667 shares, compared to its average volume of 794,902. The stock’s 50 day moving average price is $145.62 and its 200 day moving average price is $145.79. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73. Diageo plc has a 52 week low of $135.63 and a 52 week high of $188.23.

Diageo Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, March 1st were issued a $1.62 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a yield of 2.7%.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.