Norden Group LLC Invests $493,000 in Diageo plc (NYSE:DEO)

Norden Group LLC acquired a new position in Diageo plc (NYSE:DEO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,388 shares of the company’s stock, valued at approximately $493,000.

Several other large investors have also recently modified their holdings of DEO. Fox Run Management L.L.C. purchased a new position in Diageo during the 3rd quarter valued at about $263,000. Cerity Partners LLC increased its holdings in Diageo by 6.1% during the 4th quarter. Cerity Partners LLC now owns 41,808 shares of the company’s stock valued at $6,090,000 after purchasing an additional 2,400 shares during the period. Retirement Planning Co of New England Inc. increased its holdings in Diageo by 51.0% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 8,723 shares of the company’s stock valued at $1,301,000 after purchasing an additional 2,946 shares during the period. Wellington Management Group LLP increased its holdings in Diageo by 8.2% during the 3rd quarter. Wellington Management Group LLP now owns 432,223 shares of the company’s stock valued at $64,479,000 after purchasing an additional 32,928 shares during the period. Finally, Rockline Wealth Management LLC purchased a new position in Diageo during the 4th quarter valued at about $1,142,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

Diageo stock opened at $138.18 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 1.58 and a debt-to-equity ratio of 1.73. The stock’s 50 day simple moving average is $145.90 and its two-hundred day simple moving average is $145.86. Diageo plc has a fifty-two week low of $135.63 and a fifty-two week high of $188.23.

Diageo Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, March 1st were given a $1.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a dividend yield of 2.7%.

Wall Street Analysts Forecast Growth

DEO has been the topic of several research reports. Argus cut Diageo from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. BNP Paribas cut Diageo from a “neutral” rating to an “underperform” rating in a research report on Friday, January 12th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $3,797.50.

Diageo Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.