Welch & Forbes LLC Cuts Stake in Diageo plc (NYSE:DEO)

Welch & Forbes LLC lessened its holdings in Diageo plc (NYSE:DEO) by 11.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,155 shares of the company’s stock after selling 391 shares during the quarter. Welch & Forbes LLC’s holdings in Diageo were worth $401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in Diageo in the fourth quarter valued at $123,892,000. Vision Financial Markets LLC acquired a new stake in Diageo in the 4th quarter valued at about $358,000. M&T Bank Corp raised its position in Diageo by 3.2% in the 4th quarter. M&T Bank Corp now owns 31,423 shares of the company’s stock valued at $3,995,000 after purchasing an additional 986 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Diageo by 393.7% in the 4th quarter. Assetmark Inc. now owns 70,281 shares of the company’s stock valued at $8,935,000 after buying an additional 56,046 shares during the period. Finally, Clark Estates Inc. NY acquired a new position in shares of Diageo during the fourth quarter worth about $10,870,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DEO. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. TD Cowen boosted their target price on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $129.00.

Diageo Stock Down 1.2 %

DEO stock opened at $112.81 on Friday. The stock has a market cap of $62.75 billion, a P/E ratio of 16.47, a PEG ratio of 2.39 and a beta of 0.65. 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 twelve month low of $105.72 and a twelve month high of $151.76. The company’s 50 day moving average is $115.90 and its two-hundred day moving average is $124.37.

Diageo Dividend Announcement

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

About Diageo

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.