Price T Rowe Associates Inc. MD Cuts Position in Diageo plc (NYSE:DEO)

Price T Rowe Associates Inc. MD reduced its holdings in shares of Diageo plc (NYSE:DEO) by 25.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,762 shares of the company’s stock after selling 19,131 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Diageo were worth $7,217,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DEO. Canoe Financial LP raised its holdings in shares of Diageo by 88,407.3% during the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after buying an additional 8,104,301 shares during the period. FMR LLC grew its position in Diageo by 10.9% in the fourth quarter. FMR LLC now owns 5,813,938 shares of the company’s stock valued at $739,126,000 after acquiring an additional 571,873 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Diageo by 1,181.5% during the fourth quarter. Bank of Montreal Can now owns 1,406,004 shares of the company’s stock valued at $178,745,000 after purchasing an additional 1,296,285 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Diageo by 9.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,220,534 shares of the company’s stock worth $155,167,000 after purchasing an additional 103,540 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Diageo by 14.2% in the fourth quarter. Wellington Management Group LLP now owns 1,132,046 shares of the company’s stock valued at $143,917,000 after purchasing an additional 140,587 shares during the period. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

DEO opened at $113.34 on Friday. The company has a market capitalization of $63.05 billion, a P/E ratio of 16.55, a PEG ratio of 2.39 and a beta of 0.63. The company has a 50-day moving average of $108.49 and a 200-day moving average of $116.90. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. Diageo plc has a 1-year low of $100.72 and a 1-year high of $144.27.

Diageo Dividend Announcement

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

Wall Street Analyst Weigh In

DEO has been the topic of several analyst reports. Berenberg Bank started coverage on shares of Diageo in a research note on Wednesday, April 2nd. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, TD Cowen raised their price objective on Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Diageo has an average rating of “Hold” and a consensus price target of $129.00.

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.