Balyasny Asset Management LLC Raises Stock Position in Diageo plc (NYSE:DEO)

Balyasny Asset Management LLC lifted its stake in shares of Diageo plc (NYSE:DEO – Get Rating) by 34.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 188,010 shares of the company’s stock after acquiring an additional 47,849 shares during the quarter. Balyasny Asset Management LLC’s holdings in Diageo were worth $31,926,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pinnacle Holdings LLC purchased a new position in shares of Diageo during the first quarter worth approximately $33,000. Penserra Capital Management LLC purchased a new position in Diageo in the third quarter worth $36,000. Hanson & Doremus Investment Management grew its holdings in Diageo by 119.4% in the third quarter. Hanson & Doremus Investment Management now owns 226 shares of the company’s stock worth $38,000 after purchasing an additional 123 shares during the last quarter. Motco grew its holdings in Diageo by 55.4% in the third quarter. Motco now owns 261 shares of the company’s stock worth $44,000 after purchasing an additional 93 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in Diageo in the third quarter worth $44,000. 9.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DEO has been the topic of several analyst reports. StockNews.com raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, February 7th. Sanford C. Bernstein upgraded shares of Diageo from a “market perform” rating to an “outperform” rating in a research note on Monday, February 6th. Barclays lifted their price objective on shares of Diageo from GBX 5,010 ($61.06) to GBX 5,100 ($62.16) in a research note on Friday, January 27th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Diageo from GBX 3,160 ($38.51) to GBX 2,750 ($33.52) in a research report on Thursday, January 12th. Finally, Investec upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research report on Tuesday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Diageo currently has a consensus rating of “Hold” and a consensus price target of $4,081.00.

Diageo Trading Up 1.0 %

DEO opened at $172.75 on Wednesday. The company has a fifty day moving average of $176.52 and a two-hundred day moving average of $175.64. The company has a quick ratio of 0.78, a current ratio of 1.57 and a debt-to-equity ratio of 1.63. Diageo plc has a fifty-two week low of $160.09 and a fifty-two week high of $212.33.

Diageo Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, April 18th. Stockholders of record on Friday, March 3rd will be paid a dividend of $1.5187 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a dividend yield of 2.06%. This is a boost from Diageo’s previous semi-annual dividend of $1.43.

About Diageo

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Diageo Plc engages in the production and distribution of alcoholic beverages. Its brands include Johnnie Walker, Crown Royal, JeB, Buchanan’s, Windsor and Bushmills whiskies, Smirnoff, Ciroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray, and Guinness. It operates through the following geographical segments: North America; Europe and Turkey; Africa; Latin America and Caribbean; Asia Pacific; ISC; and Corporate and Other.