SouthState Corp Purchases 121 Shares of Diageo plc (NYSE:DEO)

SouthState Corp raised its position in shares of Diageo plc (NYSE:DEO) by 0.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,429 shares of the company’s stock after purchasing an additional 121 shares during the quarter. SouthState Corp’s holdings in Diageo were worth $1,707,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Diageo by 29.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 45,807 shares of the company’s stock valued at $5,823,000 after acquiring an additional 10,449 shares during the last quarter. Hutchinson Capital Management CA boosted its holdings in shares of Diageo by 14.3% during the 4th quarter. Hutchinson Capital Management CA now owns 99,991 shares of the company’s stock valued at $12,712,000 after acquiring an additional 12,475 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Diageo during the 4th quarter valued at about $240,000. Brandes Investment Partners LP purchased a new stake in shares of Diageo during the 4th quarter valued at about $553,000. Finally, Aviso Financial Inc. boosted its holdings in shares of Diageo by 3.4% during the 4th quarter. Aviso Financial Inc. now owns 242,637 shares of the company’s stock valued at $30,846,000 after acquiring an additional 7,954 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, TD Cowen raised their price objective on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $129.00.

Diageo Stock Performance

DEO opened at $107.55 on Monday. Diageo plc has a 12-month low of $105.72 and a 12-month high of $149.44. The company has a market cap of $59.83 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 2.39 and a beta of 0.65. The company’s 50 day moving average is $114.26 and its 200 day moving average is $123.45. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

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

About Diageo

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.