Wells Fargo & Company MN Lowers Stake in Diageo plc (NYSE:DEO)

Wells Fargo & Company MN trimmed its position in shares of Diageo plc (NYSE:DEO) by 12.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,427,199 shares of the company’s stock after selling 199,441 shares during the period. Wells Fargo & Company MN’s holdings in Diageo were worth $181,440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DEO. Atlas Capital Advisors Inc. bought a new position in shares of Diageo during the fourth quarter valued at about $216,000. World Investment Advisors boosted its holdings in Diageo by 1.8% during the 4th quarter. World Investment Advisors now owns 39,955 shares of the company’s stock valued at $5,079,000 after acquiring an additional 691 shares during the period. Potomac Fund Management Inc. ADV purchased a new stake in Diageo during the 4th quarter valued at about $518,000. Trexquant Investment LP grew its position in Diageo by 30.9% during the 4th quarter. Trexquant Investment LP now owns 20,601 shares of the company’s stock worth $2,619,000 after acquiring an additional 4,867 shares during the last quarter. Finally, Centric Wealth Management purchased a new position in Diageo in the 4th quarter worth approximately $1,423,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Down 3.5 %

Shares of NYSE DEO opened at $104.19 on Friday. The firm has a fifty day simple moving average of $110.12 and a two-hundred day simple moving average of $120.97. The firm has a market capitalization of $57.96 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. Diageo plc has a 12 month low of $103.70 and a 12 month high of $144.28.

Diageo Announces Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be issued a $1.62 dividend. The ex-dividend date is Friday, February 28th. This represents a yield of 3.8%. Diageo’s dividend payout ratio (DPR) is presently 46.42%.

Analyst Upgrades and Downgrades

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

Diageo 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.