Diageo plc (NYSE:DEO) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its holdings in Diageo plc (NYSE:DEO - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,866 shares of the company's stock after selling 6,172 shares during the period. Franklin Resources Inc.'s holdings in Diageo were worth $14,349,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new stake in Diageo during the fourth quarter worth about $25,000. Eastern Bank increased its position in Diageo by 107.8% during the 4th quarter. Eastern Bank now owns 241 shares of the company's stock worth $31,000 after purchasing an additional 125 shares in the last quarter. Modus Advisors LLC purchased a new position in Diageo in the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC acquired a new position in Diageo during the fourth quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC purchased a new stake in Diageo during the fourth quarter worth approximately $47,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Up 2.3 %

Shares of NYSE DEO traded up $2.48 during midday trading on Friday, reaching $109.52. 998,186 shares of the company's stock were exchanged, compared to its average volume of 929,907. The stock has a market capitalization of $60.92 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63. Diageo plc has a 52-week low of $100.72 and a 52-week high of $144.27. 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 business's fifty day moving average price is $107.97 and its two-hundred day moving average price is $119.65.

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Diageo Announces Dividend

The firm also recently disclosed 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%. Diageo's dividend payout ratio is presently 46.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DEO shares. TD Cowen raised their target price on shares of Diageo from $124.00 to $129.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. Berenberg Bank began coverage on Diageo in a research report on Wednesday, April 2nd. They issued a "buy" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Diageo currently has an average rating of "Hold" and an average target price of $129.00.

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.