Potomac Fund Management Inc. ADV Makes New $518,000 Investment in Diageo plc (NYSE:DEO)

Potomac Fund Management Inc. ADV purchased a new stake in Diageo plc (NYSE:DEO) in the 4th quarter, Holdings Channel reports. The firm purchased 4,075 shares of the company’s stock, valued at approximately $518,000.

A number of other large investors have also made changes to their positions in the company. CoreFirst Bank & Trust bought a new position in Diageo during the fourth quarter worth about $25,000. Eastern Bank lifted its holdings in shares of Diageo by 107.8% during the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after purchasing an additional 125 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Diageo in the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new stake in Diageo during the 4th quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in Diageo during the 4th quarter worth approximately $47,000. Institutional investors own 8.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on DEO. TD Cowen upped their price target on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Diageo presently has an average rating of “Hold” and an average target price of $129.00.

Diageo Stock Performance

Shares of DEO stock opened at $104.58 on Wednesday. Diageo plc has a 12 month low of $103.70 and a 12 month high of $149.24. The company’s fifty day simple moving average is $110.97 and its 200-day simple moving average is $121.45. The firm has a market cap of $58.18 billion, a PE ratio of 15.27, a P/E/G ratio of 2.39 and a beta of 0.65. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

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

Diageo Profile

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.