Assetmark Inc. Boosts Stake in Diageo plc $DEO

Assetmark Inc. increased its position in Diageo plc (NYSE:DEO) by 66.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 117,812 shares of the company’s stock after purchasing an additional 46,992 shares during the period. Assetmark Inc.’s holdings in Diageo were worth $11,880,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DEO. Brighton Jones LLC purchased a new stake in shares of Diageo in the 4th quarter valued at about $202,000. Allspring Global Investments Holdings LLC raised its stake in Diageo by 96.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,624 shares of the company’s stock valued at $588,000 after acquiring an additional 2,762 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in Diageo during the 1st quarter valued at approximately $734,000. D.A. Davidson & CO. raised its stake in Diageo by 713.3% during the 1st quarter. D.A. Davidson & CO. now owns 34,735 shares of the company’s stock valued at $3,640,000 after acquiring an additional 30,464 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its stake in Diageo by 3.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 26,131 shares of the company’s stock valued at $2,738,000 after acquiring an additional 782 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Performance

NYSE DEO opened at $92.13 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.64 and a debt-to-equity ratio of 1.64. The business’s 50 day moving average is $99.90 and its two-hundred day moving average is $104.96. Diageo plc has a 12-month low of $90.50 and a 12-month high of $132.34.

Diageo Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be given a dividend of $2.5192 per share. This represents a yield of 516.0%. The ex-dividend date is Friday, October 17th. This is a positive change from Diageo’s previous semi-annual dividend of $1.62.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group raised Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Bank of America decreased their price target on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $119.00.

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.