JLB & Associates Inc. Reduces Holdings in Diageo plc

JLB & Associates Inc. has decreased its stake in Diageo plc (NYSE:DEO) by 23.2% during the fourth quarter, as detailed in its latest 13F filing with the Securities and Exchange Commission (SEC). After selling 5,138 shares, the firm now holds a total of 16,965 shares in Diageo, which is valued at approximately $2,157,000 based on the most recent reporting period.

Interest from Other Investors

Several other institutional investors have either increased or reduced their investments in Diageo. For instance, Brooklyn Investment Group entered a new position valued at around $25,000 during the third quarter. Eastern Bank significantly boosted its holdings in Diageo by 107.8% in the fourth quarter, acquiring an additional 125 shares to bring its total to 241 shares, worth $31,000. Modus Advisors LLC and Kestra Investment Management LLC also purchased new shares, with positions valued at $35,000 and $36,000 respectively. Furthermore, Concord Wealth Partners established a new stake in the company worth about $38,000 during the third quarter. Currently, institutional investors own 8.97% of Diageo's stock.

Analysts and Price Targets

The stock (DEO) has garnered attention from several research analysts recently. UBS Group upgraded Diageo's rating from "sell" to "buy" on December 11th, while Jefferies Financial Group made a similar upgrade from "hold" to "buy" on December 5th. Additionally, TD Cowen increased its target price for Diageo from $124.00 to $129.00, maintaining a "hold" rating. Presently, the consensus rating for the stock is "Hold," with one analyst advising a sell, two suggesting a hold, and four recommending a buy, as reported by MarketBeat.com. The average price target stands at $129.00.

Recent Stock Performance

As of Friday, Diageo's stock opened at $107.94. The company has seen fluctuations over the past year, with a low of $105.72 and a high of $154.71. Key financial metrics include a debt-to-equity ratio of 1.62, a quick ratio of 0.67, and a current ratio of 1.60. The stock's 50-day simple moving average is $119.59, while the 200-day simple moving average is $125.53.

Dividend Announcement

Recently, Diageo also declared a semi-annual dividend of $1.62, which will be paid on April 24th. Shareholders who are on record by February 28th will qualify for this dividend, resulting in a yield of 3.8%.

Understanding Diageo

Diageo plc, along with its subsidiaries, specializes in the production, marketing, and sale of a variety of alcoholic beverages. The company's offerings range from scotch and vodka to wine and beer, including flavored malt beverages and ready-to-drink products.

Diageo, Stocks, Investment