Diageo plc (NYSE:DEO) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC trimmed its holdings in Diageo plc (NYSE:DEO) by 11.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,155 shares of the company’s stock after selling 391 shares during the period. Welch & Forbes LLC’s holdings in Diageo were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canoe Financial LP boosted its stake in Diageo by 88,407.3% during the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock worth $1,031,465,000 after buying an additional 8,104,301 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Diageo during the 4th quarter worth $123,892,000. Natixis Advisors LLC boosted its position in shares of Diageo by 105.7% during the 3rd quarter. Natixis Advisors LLC now owns 949,411 shares of the company’s stock valued at $133,240,000 after acquiring an additional 487,904 shares during the last quarter. FMR LLC grew its holdings in shares of Diageo by 9.1% in the third quarter. FMR LLC now owns 5,242,065 shares of the company’s stock valued at $735,671,000 after purchasing an additional 437,646 shares during the period. Finally, ABC Arbitrage SA acquired a new stake in Diageo during the fourth quarter worth about $37,777,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Stock Performance

Shares of DEO stock opened at $112.81 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. The firm has a market cap of $62.75 billion, a P/E ratio of 16.47, a P/E/G ratio of 2.39 and a beta of 0.65. The firm’s 50 day moving average price is $115.90 and its 200-day moving average price is $124.37. Diageo plc has a one year low of $105.72 and a one year high of $151.76.

Diageo Dividend Announcement

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

Wall Street Analysts Forecast Growth

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