Diageo plc (NYSE:DEO) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of Diageo plc (NYSE:DEO - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,037 shares of the company's stock after selling 2,354 shares during the period. PNC Financial Services Group Inc.'s holdings in Diageo were worth $9,540,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DEO. Brooklyn Investment Group acquired a new stake in shares of Diageo in the third quarter worth approximately $25,000. Eastern Bank boosted its position in shares of 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 acquired a new stake in shares of Diageo in the fourth quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new stake in shares of Diageo in the fourth quarter worth approximately $36,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Diageo in the fourth quarter worth approximately $47,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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Diageo Trading Down 1.6 %

NYSE DEO opened at $110.44 on Wednesday. Diageo plc has a one year low of $105.72 and a one year high of $151.76. The company's 50 day moving average price is $115.28 and its 200 day moving average price is $124.01. 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 has a market capitalization of $61.43 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 2.39 and a beta of 0.65.

Diageo Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders 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 dividend 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.

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