Empower Advisory Group LLC Takes Position in Diageo plc (NYSE:DEO)

Empower Advisory Group LLC purchased a new position in shares of Diageo plc (NYSE:DEO) during the first quarter, Holdings Channel.com reports. The fund purchased 1,379 shares of the company’s stock, valued at approximately $250,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its holdings in Diageo by 14.9% in the first quarter. Hexagon Capital Partners LLC now owns 424 shares of the company’s stock valued at $77,000 after purchasing an additional 55 shares during the period. Tiedemann Advisors LLC grew its stake in Diageo by 1.1% in the 1st quarter. Tiedemann Advisors LLC now owns 4,840 shares of the company’s stock valued at $884,000 after acquiring an additional 55 shares during the period. Contravisory Investment Management Inc. increased its holdings in Diageo by 11.2% in the 1st quarter. Contravisory Investment Management Inc. now owns 564 shares of the company’s stock worth $102,000 after acquiring an additional 57 shares in the last quarter. Twelve Points Wealth Management LLC raised its position in Diageo by 1.0% during the first quarter. Twelve Points Wealth Management LLC now owns 6,057 shares of the company’s stock worth $1,097,000 after acquiring an additional 58 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Diageo by 0.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 13,580 shares of the company’s stock valued at $2,420,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Down 0.5 %

NYSE DEO opened at $158.91 on Monday. The business’s fifty day simple moving average is $169.74 and its 200-day simple moving average is $174.62. The company has a quick ratio of 0.62, a current ratio of 1.63 and a debt-to-equity ratio of 1.67. The firm has a market cap of $97.72 billion, a PE ratio of 18.94, a P/E/G ratio of 2.83 and a beta of 0.68. Diageo plc has a 52 week low of $157.84 and a 52 week high of $191.93.

Diageo Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, August 25th will be paid a dividend of $2.5089 per share. The ex-dividend date is Thursday, August 24th. This is an increase from Diageo’s previous semi-annual dividend of $1.43. This represents a yield of 2.4%. Diageo’s payout ratio is 59.59%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DEO shares. Credit Suisse Group cut their target price on shares of Diageo from GBX 3,850 ($48.18) to GBX 3,800 ($47.55) in a research note on Wednesday, August 9th. TD Cowen assumed coverage on Diageo in a report on Friday. They set a “market perform” rating for the company. StockNews.com began coverage on Diageo in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. reduced their price objective on Diageo from GBX 4,500 ($56.31) to GBX 4,000 ($50.06) in a research note on Tuesday, June 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Diageo from GBX 2,920 ($36.54) to GBX 2,950 ($36.92) in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3,898.33.

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.