CIBC Bancorp USA Inc. Acquires New Shares in Diageo plc $DEO

CIBC Bancorp USA Inc. bought a new stake in Diageo plc (NYSE:DEO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 323,684 shares of the company’s stock, valued at approximately $30,889,000. CIBC Bancorp USA Inc. owned 0.06% of Diageo at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DEO. Centaurus Financial Inc. grew its position in shares of Diageo by 51.4% during the 3rd quarter. Centaurus Financial Inc. now owns 11,448 shares of the company’s stock worth $1,092,000 after buying an additional 3,889 shares during the period. First Affirmative Financial Network bought a new stake in shares of Diageo in the 3rd quarter valued at about $245,000. Sunbelt Securities Inc. raised its position in shares of Diageo by 7.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 4,161 shares of the company’s stock valued at $397,000 after acquiring an additional 298 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Diageo by 22.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,761 shares of the company’s stock valued at $359,000 after acquiring an additional 697 shares during the period. Finally, Advisory Services Network LLC boosted its stake in Diageo by 1.4% during the 3rd quarter. Advisory Services Network LLC now owns 14,984 shares of the company’s stock worth $1,430,000 after acquiring an additional 213 shares during the last quarter. Institutional investors own 8.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on DEO. Barclays restated an “overweight” rating on shares of Diageo in a report on Thursday, December 11th. Argus upgraded shares of Diageo to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research report on Wednesday, January 21st. Sanford C. Bernstein set a $124.00 price target on shares of Diageo and gave the company an “outperform” rating in a report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Diageo in a research report on Friday, November 28th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $116.50.

Diageo Price Performance

NYSE DEO opened at $75.21 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. The business has a 50 day simple moving average of $89.88 and a 200 day simple moving average of $92.56. Diageo plc has a 52-week low of $75.11 and a 52-week high of $116.69.

Diageo Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, June 4th. Stockholders of record on Friday, April 17th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, April 17th. This represents a dividend yield of 207.0%.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.