Wells Fargo & Company MN Sells 199,441 Shares of Diageo plc (NYSE:DEO)

Wells Fargo & Company MN lessened its holdings in shares of Diageo plc (NYSE:DEO) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 0.26% of Diageo worth $181,440,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of DEO. Thrivent Financial for Lutherans purchased a new position in Diageo during the third quarter worth about $261,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Diageo by 84.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 33,754 shares of the company’s stock worth $4,737,000 after buying an additional 15,487 shares during the last quarter. Hilltop Holdings Inc. boosted its stake in shares of Diageo by 87.7% in the 3rd quarter. Hilltop Holdings Inc. now owns 3,234 shares of the company’s stock worth $454,000 after buying an additional 1,511 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Diageo by 16.4% in the third quarter. HighTower Advisors LLC now owns 120,686 shares of the company’s stock valued at $16,947,000 after acquiring an additional 16,999 shares in the last quarter. Finally, IHT Wealth Management LLC increased its position in shares of Diageo by 100.7% during the third quarter. IHT Wealth Management LLC now owns 7,946 shares of the company’s stock valued at $1,114,000 after acquiring an additional 3,986 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Stock Performance

Shares of DEO stock opened at $104.19 on Friday. Diageo plc has a 12 month low of $103.70 and a 12 month high of $144.28. The stock has a market capitalization of $57.96 billion, a P/E ratio of 15.21, a PEG ratio of 2.39 and a beta of 0.63. The company has a current ratio of 1.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.62. The firm’s 50 day moving average is $110.12 and its 200 day moving average is $120.97.

Diageo Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have issued reports on DEO. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Berenberg Bank began coverage on shares of Diageo in a report on Wednesday. They set a “buy” rating for the company. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, TD Cowen increased their target price on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. 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. Based on data from MarketBeat, Diageo 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.