Diageo plc (NYSE:DEO) Shares Sold by First American Bank

First American Bank lessened its stake in Diageo plc (NYSE:DEO) by 30.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,057 shares of the company’s stock after selling 4,769 shares during the quarter. First American Bank’s holdings in Diageo were worth $1,406,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Diageo by 38.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,323 shares of the company’s stock valued at $326,000 after purchasing an additional 643 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Diageo during the third quarter valued at approximately $9,769,000. Arkadios Wealth Advisors acquired a new stake in Diageo during the third quarter valued at approximately $338,000. Pallas Capital Advisors LLC bought a new position in Diageo during the 3rd quarter worth approximately $200,000. Finally, Mutual Advisors LLC grew its position in shares of Diageo by 6.3% in the 3rd quarter. Mutual Advisors LLC now owns 12,326 shares of the company’s stock worth $1,657,000 after acquiring an additional 733 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Performance

NYSE:DEO opened at $108.53 on Friday. The firm has a market cap of $60.38 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 2.39 and a beta of 0.66. Diageo plc has a twelve month low of $105.72 and a twelve month high of $153.36. 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 company has a 50-day moving average of $117.72 and a 200-day moving average of $125.11.

Diageo Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. TD Cowen increased their price target on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Finally, UBS Group raised 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.