Cullen Capital Management LLC Has $91.63 Million Stock Holdings in Diageo plc (NYSE:DEO)

Cullen Capital Management LLC lifted its holdings in shares of Diageo plc (NYSE:DEO) by 19.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,763 shares of the company’s stock after purchasing an additional 119,424 shares during the period. Cullen Capital Management LLC owned 0.13% of Diageo worth $91,631,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Atlas Capital Advisors Inc. acquired a new stake in shares of Diageo during the 4th quarter worth approximately $216,000. World Investment Advisors grew its holdings in Diageo by 1.8% in the fourth quarter. World Investment Advisors now owns 39,955 shares of the company’s stock worth $5,079,000 after purchasing an additional 691 shares during the period. Potomac Fund Management Inc. ADV bought a new stake in Diageo in the fourth quarter valued at $518,000. Trexquant Investment LP raised its holdings in shares of Diageo by 30.9% during the fourth quarter. Trexquant Investment LP now owns 20,601 shares of the company’s stock valued at $2,619,000 after purchasing an additional 4,867 shares during the period. Finally, Centric Wealth Management bought a new position in shares of Diageo during the 4th quarter worth about $1,423,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Price Performance

Shares of NYSE:DEO opened at $104.19 on Friday. 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 stock has a market cap of $57.96 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63. The stock’s fifty day simple moving average is $110.12 and its two-hundred day simple moving average is $121.06. Diageo plc has a 1-year low of $103.70 and a 1-year high of $145.55.

Diageo Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DEO. Deutsche Bank Aktiengesellschaft raised Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. TD Cowen upped their target price on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research report on Wednesday, December 11th. Finally, Berenberg Bank started coverage on shares of Diageo in a report on Wednesday. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Diageo 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.