Massachusetts Financial Services Co. MA Cuts Stake in Diageo plc (NYSE:DEO)

Massachusetts Financial Services Co. MA reduced its position in Diageo plc (NYSE:DEO - Free Report) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,221,015 shares of the company's stock after selling 33,378 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.22% of Diageo worth $155,228,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of DEO. Potomac Fund Management Inc. ADV purchased a new stake in Diageo during the fourth quarter valued at about $518,000. Trexquant Investment LP grew its position in Diageo by 30.9% during the 4th quarter. Trexquant Investment LP now owns 20,601 shares of the company's stock worth $2,619,000 after acquiring an additional 4,867 shares during the last quarter. Centric Wealth Management bought a new stake in Diageo in the fourth quarter valued at approximately $1,423,000. Headlands Technologies LLC purchased a new stake in shares of Diageo during the fourth quarter valued at approximately $112,000. Finally, OLD Mission Capital LLC raised its holdings in Diageo by 5,531.2% during the 4th quarter. OLD Mission Capital LLC now owns 135,149 shares of the company's stock valued at $17,181,000 after buying an additional 132,749 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Down 1.6 %

DEO stock traded down $1.71 during midday trading on Thursday, hitting $105.86. The stock had a trading volume of 874,914 shares, compared to its average volume of 925,457. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The firm has a market cap of $58.89 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63. The business has a 50-day moving average of $108.30 and a two-hundred day moving average of $120.01. Diageo plc has a 52-week low of $100.72 and a 52-week high of $144.27.

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Diageo Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo's payout ratio is 46.42%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DEO. UBS Group upgraded shares of Diageo from a "sell" rating to a "buy" rating in a report on Wednesday, December 11th. Berenberg Bank assumed coverage on Diageo in a report on Wednesday, April 2nd. They issued a "buy" rating for the company. TD Cowen boosted their target price on Diageo from $124.00 to $129.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised Diageo from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.