Capital Wealth Planning LLC Trims Position in Diageo plc (NYSE:DEO)

Capital Wealth Planning LLC lessened its position in shares of Diageo plc (NYSE:DEO) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,403 shares of the company’s stock after selling 1,092 shares during the quarter. Capital Wealth Planning LLC’s holdings in Diageo were worth $1,831,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Diageo during the third quarter valued at $25,000. Eastern Bank increased its position in Diageo by 107.8% during the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares during the last quarter. Modus Advisors LLC purchased a new stake in Diageo during the fourth quarter valued at $35,000. Kestra Investment Management LLC purchased a new stake in Diageo during the fourth quarter valued at $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in Diageo during the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Wall Street Analyst Weigh In

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

Diageo Stock Performance

Shares of DEO opened at $108.83 on Friday. The stock has a 50-day moving average of $117.39 and a two-hundred day moving average of $124.98. Diageo plc has a one year low of $105.72 and a one year high of $151.76. 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 stock has a market cap of $60.54 billion, a P/E ratio of 15.89, a P/E/G ratio of 2.39 and a beta of 0.66.

Diageo Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo’s 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.