Diageo plc (NYSE:DEO) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lowered its position in shares of Diageo plc (NYSE:DEO) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,273 shares of the company’s stock after selling 452 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Diageo were worth $6,645,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of DEO. Brooklyn Investment Group purchased a new position in Diageo during the third quarter worth approximately $25,000. Eastern Bank boosted its holdings in shares of Diageo by 107.8% in the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after purchasing an additional 125 shares during the last quarter. Modus Advisors LLC acquired a new position in shares of Diageo in the 4th quarter valued at $35,000. Kestra Investment Management LLC acquired a new position in shares of Diageo in the 4th quarter valued at $36,000. Finally, Concord Wealth Partners acquired a new position in shares of Diageo in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Performance

NYSE:DEO opened at $110.54 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $61.49 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 2.39 and a beta of 0.66. The firm’s fifty day simple moving average is $119.17 and its 200 day simple moving average is $125.49. Diageo plc has a twelve month low of $105.72 and a twelve month high of $154.71.

Diageo Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo’s payout ratio is 73.28%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Finally, UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $129.00.

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.