Truist Financial Corp Lowers Position in Diageo plc (NYSE:DEO)

Truist Financial Corp reduced its stake in shares of Diageo plc (NYSE:DEO - Free Report) by 26.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 235,741 shares of the company's stock after selling 83,967 shares during the period. Truist Financial Corp's holdings in Diageo were worth $29,970,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DEO. Brooklyn Investment Group acquired a new stake in Diageo in the third 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 valued at $31,000 after buying an additional 125 shares during the last quarter. Modus Advisors LLC bought a new stake in Diageo in the fourth quarter valued at $35,000. Concord Wealth Partners bought a new stake in Diageo in the third quarter valued at $38,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Diageo during the fourth quarter valued at $47,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DEO has been the topic of a number of research analyst reports. UBS Group raised Diageo from a "sell" rating to a "buy" rating in a report on Wednesday, December 11th. Jefferies Financial Group raised Diageo from a "hold" rating to a "buy" rating in a research note on Thursday, December 5th. Finally, TD Cowen raised their price objective on Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Diageo currently has a consensus rating of "Hold" and a consensus price target of $129.00.

Diageo Price Performance

DEO stock traded up $2.56 during trading on Friday, hitting $110.54. The company had a trading volume of 867,769 shares, compared to its average volume of 1,119,252. The company has a fifty day moving average price of $119.59 and a two-hundred day moving average price of $125.53. 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 fifty-two week low of $105.72 and a fifty-two week high of $154.71.

Diageo Dividend Announcement

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 paid a $1.62 dividend. This represents a yield of 3.8%. The ex-dividend date is Friday, February 28th.

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.