Brown Brothers Harriman & Co. Trims Stake in Diageo plc (NYSE:DEO)

Brown Brothers Harriman & Co. reduced its stake in Diageo plc (NYSE:DEO) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 168,491 shares of the company’s stock after selling 10,886 shares during the period. Brown Brothers Harriman & Co.’s holdings in Diageo were worth $21,420,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

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

Diageo Stock Down 0.3 %

DEO stock opened at $105.25 on Friday. The company has a market cap of $58.55 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. The company has a fifty day moving average price of $111.55 and a 200 day moving average price of $121.94. 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 plc has a 12 month low of $104.80 and a 12 month high of $149.24.

Diageo Dividend Announcement

The business also recently declared 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. This represents a dividend yield of 3.8%. The ex-dividend date is Friday, February 28th. Diageo’s dividend payout ratio is currently 46.42%.

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.