Cullen Capital Management LLC Acquires 119,424 Shares of Diageo plc (NYSE:DEO)

Cullen Capital Management LLC raised its holdings in Diageo plc (NYSE:DEO) by 19.9% in the fourth quarter, Holdings Channel reports. The firm owned 720,763 shares of the company’s stock after purchasing an additional 119,424 shares during the period. Cullen Capital Management LLC’s holdings in Diageo were worth $91,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans purchased a new stake in Diageo during the third quarter worth about $261,000. Charles Schwab Investment Management Inc. increased its stake in shares of Diageo by 84.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 33,754 shares of the company’s stock worth $4,737,000 after purchasing an additional 15,487 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Diageo by 87.7% in the 3rd quarter. Hilltop Holdings Inc. now owns 3,234 shares of the company’s stock worth $454,000 after purchasing an additional 1,511 shares during the period. HighTower Advisors LLC lifted its stake in Diageo by 16.4% in the third quarter. HighTower Advisors LLC now owns 120,686 shares of the company’s stock valued at $16,947,000 after purchasing an additional 16,999 shares during the last quarter. Finally, IHT Wealth Management LLC grew its holdings in Diageo by 100.7% during the third quarter. IHT Wealth Management LLC now owns 7,946 shares of the company’s stock valued at $1,114,000 after purchasing an additional 3,986 shares during the period. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Performance

NYSE:DEO opened at $104.19 on Friday. The business’s fifty day moving average is $110.12 and its 200 day moving average is $121.06. The firm has a market cap of $57.96 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 2.39 and a beta of 0.63. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. Diageo plc has a 52-week low of $103.70 and a 52-week high of $145.55.

Diageo Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Friday, February 28th will be given a dividend of $1.62 per share. This represents a dividend yield of 3.8%. The ex-dividend date is Friday, February 28th. Diageo’s dividend payout ratio is presently 46.42%.

Wall Street Analyst Weigh In

Several analysts have issued reports on DEO shares. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. TD Cowen boosted their price objective on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Berenberg Bank began coverage on shares of Diageo in a research report on Wednesday. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Company Profile

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