Burkett Asset Management Ltd Acquires New Shares in Diageo plc $DEO

Burkett Asset Management Ltd acquired a new stake in shares of Diageo plc (NYSE:DEO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 20,915 shares of the company’s stock, valued at approximately $1,804,000. Diageo makes up 1.8% of Burkett Asset Management Ltd’s portfolio, making the stock its 18th biggest position.

Several other hedge funds also recently modified their holdings of DEO. Brighton Jones LLC acquired a new stake in shares of Diageo during the 4th quarter valued at $202,000. Russell Investments Group Ltd. boosted its holdings in shares of Diageo by 17.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,952 shares of the company’s stock valued at $399,000 after acquiring an additional 574 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Diageo by 5.3% during the 2nd quarter. Invesco Ltd. now owns 212,004 shares of the company’s stock valued at $21,379,000 after acquiring an additional 10,653 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Diageo by 87.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,234 shares of the company’s stock valued at $124,000 after acquiring an additional 575 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Diageo during the 2nd quarter valued at $444,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

DEO has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. BNP Paribas Exane raised Diageo from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 25th. Argus raised Diageo to a “hold” rating in a report on Tuesday, March 10th. Zacks Research raised Diageo from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Finally, HSBC downgraded Diageo from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Diageo presently has a consensus rating of “Hold” and an average target price of $116.50.

Diageo Stock Up 1.9%

Shares of NYSE:DEO opened at $81.27 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. The business’s 50-day moving average is $80.63 and its 200-day moving average is $85.26. Diageo plc has a 1 year low of $72.45 and a 1 year high of $116.41.

Diageo Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, April 17th were paid a $0.80 dividend. This represents a dividend yield of 195.0%. The ex-dividend date of this dividend was Friday, April 17th.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.