Essential Planning LLC Acquires Stake in Diageo plc

Essential Planning LLC has taken a new position in Diageo plc (NYSE:DEO) during the fourth quarter, as indicated by its latest 13F filing with the Securities and Exchange Commission. The investment firm purchased 5,850 shares of Diageo's stock, which amounts to an approximate value of $745,000.

Additionally, several other institutional investors and hedge funds have adjusted their holdings in Diageo as well. For instance, Assetmark Inc. significantly increased its stake in Diageo by 160.7% during the third quarter, now holding 14,235 shares valued at roughly $1,998,000 after acquiring an extra 8,775 shares. Similarly, Sigma Planning Corp raised its stake by 14.5% during the same period, bringing its total to 5,965 shares worth $837,000 following the purchase of 754 shares.
Cable Hill Partners LLC also saw an increase, with a 17.7% rise in their position, now owning 3,111 shares valued at $444,000 after buying an additional 467 shares. Zions Bancorporation N.A. made a remarkable increase of 17,372.5% in its position in Diageo, amassing a total of 36,867 shares worth $5,174,000 by purchasing 36,656 additional shares. In total, Schulhoff & Co. Inc. initiated a new stake in Diageo valued at around $212,000 during the third quarter. Presently, approximately 8.97% of Diageo's stock is held by institutional investors.

Current Share Performance

As of Friday, shares for NYSE DEO opened at $107.85. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67, and a current ratio of 1.60. Over the past year, Diageo has seen a low stock price of $105.72 and a high of $151.76. The average price of the stock over the last 50 days stands at $114.53, with a 200-day average of $123.79. The company's market capitalization is approximately $60 billion, featuring a P/E ratio of 15.75, a price-to-earnings-growth ratio of 2.39, and a beta of 0.65.

Dividend Announcement

Recently, Diageo announced a semi-annual dividend that is scheduled for distribution on Thursday, April 24th. Shareholders who are on record as of Friday, February 28th, will receive a dividend payment of $1.62, which results in a dividend yield of 3.8%. The ex-dividend date for this payment is also set for February 28th. Currently, Diageo's dividend payout ratio is 46.42%.

Analyst Opinions

Diageo has been the focus of multiple analyst reports. Deutsche Bank Aktiengesellschaft raised its rating on Diageo from “sell” to “hold” in a report released on March 3rd. Similarly, UBS Group upgraded its rating from “sell” to “buy” on December 11th. Jefferies Financial Group also changed their rating from “hold” to “buy” on December 5th. Furthermore, TD Cowen adjusted their price target on Diageo shares from $124.00 to $129.00 while maintaining a “hold” rating on the company’s stock. Currently, one analyst has rated Diageo as a sell, three have a hold rating, and four have rated it as a buy. According to data from MarketBeat.com, the stock has an average rating of "Hold" with an average target price of $129.00.

Company Overview

Diageo plc, along with its subsidiaries, is involved in the production, marketing, and sale of alcoholic beverages. The firm’s offerings include various types of spirits such as scotch, gin, vodka, rum, liqueurs, and tequila, among others. They also produce beer, including flavored malt beverages and cider. Additionally, Diageo provides a range of whiskies from different countries, along with ready-to-drink and non-alcoholic products.

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