SouthState Corp Purchases 857 Shares of Diageo plc (NYSE:DEO)

SouthState Corp increased its position in Diageo plc (NYSE:DEO) by 8.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,920 shares of the company’s stock after acquiring an additional 857 shares during the period. SouthState Corp’s holdings in Diageo were worth $1,591,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Planned Solutions Inc. purchased a new stake in Diageo during the fourth quarter valued at approximately $27,000. Addison Advisors LLC raised its holdings in Diageo by 97.3% in the 4th quarter. Addison Advisors LLC now owns 217 shares of the company’s stock worth $32,000 after purchasing an additional 107 shares during the period. Criterion Capital Advisors LLC bought a new position in Diageo in the 4th quarter worth $36,000. First Command Advisory Services Inc. purchased a new position in Diageo during the third quarter valued at $48,000. Finally, Carmel Capital Partners LLC bought a new stake in Diageo during the third quarter valued at about $49,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BNP Paribas downgraded Diageo from a “neutral” rating to an “underperform” rating in a research note on Friday, January 12th. Argus cut shares of Diageo from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3,797.50.

Diageo Stock Performance

Shares of Diageo stock traded up $0.87 during trading hours on Friday, hitting $137.44. The company’s stock had a trading volume of 587,090 shares, compared to its average volume of 799,173. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 0.65. The business has a 50 day moving average price of $145.31 and a two-hundred day moving average price of $145.73. Diageo plc has a 12-month low of $135.63 and a 12-month high of $188.23.

Diageo Cuts Dividend

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

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.