Wells Fargo & Company MN Lowers Holdings in Diageo plc (NYSE:DEO)

Wells Fargo & Company MN trimmed its position in shares of Diageo plc (NYSE:DEO - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,427,199 shares of the company's stock after selling 199,441 shares during the quarter. Wells Fargo & Company MN owned approximately 0.26% of Diageo worth $181,440,000 as of its most recent SEC filing.

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

Diageo Trading Up 0.9 %

Diageo stock traded up $0.97 during trading on Friday, reaching $108.01. 381,777 shares of the company were exchanged, compared to its average volume of 929,507. The stock's 50 day simple moving average is $108.10 and its two-hundred day simple moving average is $119.81. The company has a market capitalization of $60.08 billion, a P/E ratio of 15.75, a PEG ratio of 2.39 and a beta of 0.63. 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 52-week low of $100.72 and a 52-week high of $144.27.

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Diageo Announces Dividend

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

Analyst Ratings Changes

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