Callahan Advisors LLC Lowers Stake in Diageo plc (NYSE:DEO)

Callahan Advisors LLC cut its holdings in shares of Diageo plc (NYSE:DEO - Free Report) by 49.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,728 shares of the company's stock after selling 17,523 shares during the quarter. Callahan Advisors LLC's holdings in Diageo were worth $2,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Citigroup Inc. lifted its stake in Diageo by 4.4% during the 3rd quarter. Citigroup Inc. now owns 158,428 shares of the company's stock worth $22,234,000 after acquiring an additional 6,617 shares in the last quarter. Canoe Financial LP lifted its stake in Diageo by 88,407.3% during the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company's stock worth $1,031,465,000 after acquiring an additional 8,104,301 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Diageo by 32.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 65,894 shares of the company's stock worth $9,248,000 after acquiring an additional 16,285 shares in the last quarter. FMR LLC raised its position in Diageo by 9.1% in the 3rd 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 in the last quarter. Finally, Tevis Investment Management raised its position in Diageo by 159.7% in the 4th quarter. Tevis Investment Management now owns 13,869 shares of the company's stock valued at $1,763,000 after purchasing an additional 8,528 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DEO has been the topic of several research analyst reports. Jefferies Financial Group raised Diageo from a "hold" rating to a "buy" rating in a research report on Thursday, December 5th. UBS Group upgraded Diageo from a "sell" rating to a "buy" rating in a research note on Wednesday, December 11th. Finally, TD Cowen raised 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Diageo has a consensus rating of "Hold" and an average price target of $129.00.

Diageo Stock Up 2.4 %

NYSE:DEO traded up $2.56 during mid-day trading on Friday, hitting $110.54. 867,769 shares of the company's stock traded hands, compared to its average volume of 1,119,252. 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's 50 day simple moving average is $119.17 and its 200 day simple moving average is $125.46. Diageo plc has a 1 year low of $105.72 and a 1 year high of $154.71.

Diageo Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, February 28th. This represents a yield of 3.8%.

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.