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

Pinnacle Financial Partners Inc reduced its stake in shares of Diageo plc (NYSE:DEO) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Diageo during the third quarter worth about $25,000. Eastern Bank grew its position in Diageo by 107.8% during the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after buying an additional 125 shares during the period. Concord Wealth Partners acquired a new position in Diageo during the third quarter worth about $38,000. Modus Advisors LLC acquired a new position in Diageo during the fourth quarter worth about $35,000. Finally, Kestra Investment Management LLC acquired a new position in Diageo during the fourth quarter worth about $36,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Diageo Stock Up 2.4 %

DEO stock opened at $110.54 on Friday. The company’s 50 day simple moving average is $119.17 and its 200-day simple moving average is $125.49. The firm has a market capitalization of $61.49 billion, a PE ratio of 16.14, a P/E/G ratio of 2.39 and a beta of 0.66. Diageo plc has a 12 month low of $105.72 and a 12 month high of $154.71. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67.

Diageo Announces Dividend

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

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.